BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $3.84 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,958 shares of the industrial products company's stock after selling 1,313 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Hubbell were worth $3,837,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HUBB. Prospera Private Wealth LLC bought a new position in Hubbell in the third quarter worth approximately $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Hubbell during the 3rd quarter valued at about $41,000. Quarry LP purchased a new stake in Hubbell during the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell in the third quarter worth about $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Hubbell during the 2nd quarter valued at $62,000. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Up 2.5 %

NYSE HUBB traded up $11.35 during trading hours on Wednesday, hitting $469.17. The company had a trading volume of 460,160 shares, compared to its average volume of 441,454. The firm's 50 day moving average is $446.95 and its 200 day moving average is $405.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a market capitalization of $25.18 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 1.70 and a beta of 0.91. Hubbell Incorporated has a fifty-two week low of $295.90 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts' consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.95 earnings per share. Sell-side analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. This is a positive change from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.13%. Hubbell's dividend payout ratio (DPR) is currently 38.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HUBB. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target on the stock. Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered shares of Hubbell from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and decreased their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Hubbell has a consensus rating of "Hold" and an average target price of $449.11.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company's stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by insiders.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.