Hubbell Incorporated (NYSE:HUBB) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC increased its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 57.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,771 shares of the industrial products company's stock after purchasing an additional 45,849 shares during the period. Stephens Investment Management Group LLC owned 0.23% of Hubbell worth $53,874,000 at the end of the most recent quarter.

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

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 related 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 sale, the director now directly owns 1,670 shares of the company's stock, valued at approximately $608,781.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 approximately $24,861,791.10. The trade was 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.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of Hubbell from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Stephens restated an "overweight" rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Barclays upped their target price on shares of Hubbell from $400.00 to $402.00 and gave the company an "equal weight" rating in a report on Wednesday. Mizuho upped their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Finally, Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $434.38.

Hubbell Stock Performance

HUBB stock traded down $1.33 on Friday, hitting $425.70. The company's stock had a trading volume of 539,193 shares, compared to its average volume of 442,942. The stock has a market cap of $22.85 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.60 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1 year low of $274.42 and a 1 year high of $461.77. The firm has a 50 day moving average of $420.91 and a two-hundred day moving average of $395.63.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS 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 the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.95 EPS. Equities analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio (DPR) is currently 38.04%.

Hubbell 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.