National Pension Service Cuts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

National Pension Service lessened its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 15.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,952 shares of the industrial products company's stock after selling 14,848 shares during the quarter. National Pension Service owned about 0.15% of Hubbell worth $33,819,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HUBB. Nvwm LLC bought a new position in shares of Hubbell in the first quarter worth about $25,000. Quarry LP bought a new position in shares of Hubbell during the 2nd quarter worth approximately $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell in the third quarter worth $58,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hubbell during the second quarter valued at approximately $62,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company's stock worth $67,000 after acquiring an additional 35 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Hubbell from $400.00 to $402.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday. They issued an "outperform" rating and a $535.00 price objective for the company. 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 report on Thursday, October 10th. Stephens reaffirmed an "overweight" rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Finally, Mizuho lifted their price target on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $445.56.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.78% of the stock is owned by corporate insiders.

Hubbell Stock Performance

NYSE:HUBB traded down $5.14 on Thursday, reaching $466.98. 483,084 shares of the company's stock were exchanged, compared to its average volume of 443,839. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 34.01, a P/E/G ratio of 1.58 and a beta of 0.90. 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 stock has a fifty day simple moving average of $425.20 and a 200-day simple moving average of $396.93. Hubbell Incorporated has a 52 week low of $278.62 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $3.95 EPS. Hubbell's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. This is a boost 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 is 35.16%.

Hubbell Company 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.