Adams Diversified Equity Fund Inc. Sells 8,000 Shares of Hubbell Incorporated (NYSE:HUBB)

Adams Diversified Equity Fund Inc. cut its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 14.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,400 shares of the industrial products company's stock after selling 8,000 shares during the quarter. Adams Diversified Equity Fund Inc. owned about 0.09% of Hubbell worth $20,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of HUBB. Bank of New York Mellon Corp grew its holdings in shares of Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company's stock worth $743,970,000 after purchasing an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company's stock worth $821,989,000 after buying an additional 286,134 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Hubbell by 42,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company's stock worth $8,223,740,000 after buying an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company's stock worth $487,995,000 after buying an additional 46,813 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of Hubbell by 53.8% during the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company's stock valued at $336,984,000 after buying an additional 322,728 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Down 1.9 %

NYSE:HUBB traded down $8.46 during midday trading on Wednesday, reaching $431.66. 469,666 shares of the stock traded hands, compared to its average volume of 442,461. The stock has a market capitalization of $23.17 billion, a P/E ratio of 32.40, a PEG ratio of 1.66 and a beta of 0.90. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $461.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The company has a fifty day moving average of $418.82 and a 200 day moving average of $395.15.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. Hubbell's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.95 earnings per share. On average, research analysts predict that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $1.32 dividend. This is a positive change from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, November 29th. Hubbell's dividend payout ratio (DPR) is currently 36.39%.

Analysts Set New Price Targets

A number of research firms recently commented on HUBB. Deutsche Bank Aktiengesellschaft raised Hubbell from a "hold" rating to a "buy" rating and increased their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. lowered 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, October 10th. Wells Fargo & Company boosted their target price on Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Stephens reiterated an "overweight" rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, Barclays boosted 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. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $434.38.

Insider Activity

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

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.