National Bank of Canada FI Increases Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

National Bank of Canada FI boosted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 47.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,808 shares of the industrial products company's stock after buying an additional 7,052 shares during the quarter. National Bank of Canada FI's holdings in Hubbell were worth $9,341,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. OLD National Bancorp IN grew its holdings in shares of Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock worth $255,000 after buying an additional 22 shares in the last quarter. Avestar Capital LLC grew its stake in Hubbell by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company's stock valued at $247,000 after acquiring an additional 28 shares in the last quarter. Detalus Advisors LLC raised its holdings in Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock valued at $377,000 after acquiring an additional 30 shares during the last quarter. Ballentine Partners LLC lifted its stake in Hubbell by 3.2% in the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company's stock worth $410,000 after purchasing an additional 30 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company's stock worth $440,000 after purchasing an additional 31 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut Hubbell from a "buy" rating to a "hold" rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price objective for the company. Mizuho raised their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an "overweight" rating to a "neutral" rating and increased their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell presently has an average rating of "Hold" and a consensus price target of $472.13.

Hubbell Trading Down 0.4 %

Shares of HUBB traded down $1.66 during midday trading on Thursday, hitting $455.34. 299,291 shares of the stock were exchanged, compared to its average volume of 439,164. Hubbell Incorporated has a 52-week low of $311.38 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The stock has a fifty day simple moving average of $450.79 and a 200 day simple moving average of $407.54. The firm has a market cap of $24.44 billion, a P/E ratio of 32.91, a P/E/G ratio of 1.72 and a beta of 0.91.

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

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 1.16%. This is a boost from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell's payout ratio is presently 38.04%.

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 shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.78% of the stock is owned by corporate insiders.

About Hubbell

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.