40,000 Shares in Hubbell Incorporated (NYSE:HUBB) Bought by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. bought a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 40,000 shares of the industrial products company's stock, valued at approximately $17,134,000. Factory Mutual Insurance Co. owned 0.07% of Hubbell as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nvwm LLC acquired a new position in shares of Hubbell in the 1st quarter worth approximately $25,000. Riverview Trust Co acquired a new position in shares of Hubbell in the 1st quarter worth approximately $52,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the 1st quarter worth approximately $56,000. Quarry LP purchased a new stake in Hubbell during the 2nd quarter worth approximately $49,000. Finally, GAMMA Investing LLC increased its stake in Hubbell by 84.7% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company's stock worth $67,000 after buying an additional 72 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HUBB has been the topic of several recent research reports. Stephens reaffirmed an "overweight" rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They set an "equal weight" rating and a $407.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Hubbell from $400.00 to $445.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Barclays increased their price objective on shares of Hubbell from $368.00 to $400.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $385.00 to $454.00 in a research report on Thursday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $423.13.

Insider Activity

In other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now owns 1,670 shares of the company's stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Hubbell Stock Performance

Shares of HUBB stock traded up $13.12 during mid-day trading on Friday, hitting $456.57. The stock had a trading volume of 326,409 shares, compared to its average volume of 447,486. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $457.00. The firm has a market cap of $24.51 billion, a PE ratio of 34.05, a PEG ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The company's 50-day simple moving average is $399.82 and its 200-day simple moving average is $392.08.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $4.07 EPS. Sell-side analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.07%. Hubbell's dividend payout ratio is presently 36.39%.

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.