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Maven Securities LTD Purchases Shares of 2,070 Hubbell Incorporated (NYSE:HUBB)

Hubbell logo with Industrial Products background

Maven Securities LTD acquired a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,070 shares of the industrial products company's stock, valued at approximately $887,000.

Several other large investors have also made changes to their positions in HUBB. Cetera Investment Advisers raised its position in shares of Hubbell by 280.6% during the 1st quarter. Cetera Investment Advisers now owns 5,991 shares of the industrial products company's stock worth $2,486,000 after purchasing an additional 4,417 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Hubbell during the first quarter valued at approximately $582,000. Harbor Capital Advisors Inc. lifted its position in shares of Hubbell by 12.2% in the second quarter. Harbor Capital Advisors Inc. now owns 1,135 shares of the industrial products company's stock valued at $415,000 after acquiring an additional 123 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Hubbell by 92.4% in the second quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company's stock worth $851,000 after acquiring an additional 1,119 shares during the last quarter. Finally, CWM LLC increased its position in shares of Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company's stock worth $482,000 after purchasing an additional 28 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Hubbell from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Mizuho increased their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Barclays boosted their target price on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $457.22.

Read Our Latest Stock Report on HUBB

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business's stock in a transaction 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 sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company's stock.

Hubbell Trading Down 0.6 %

Shares of HUBB stock traded down $2.62 during trading on Thursday, hitting $466.76. 330,642 shares of the stock traded hands, compared to its average volume of 440,982. Hubbell Incorporated has a 52-week low of $300.54 and a 52-week high of $481.35. The firm has a market capitalization of $25.05 billion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The firm's fifty day moving average price is $448.62 and its 200-day moving average price is $406.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB - Get Free Report) last posted 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 for 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%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.95 earnings per share. As a group, research analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

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

Hubbell Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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