Hubbell Incorporated (NYSE:HUBB) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC trimmed its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,114 shares of the industrial products company's stock after selling 21,606 shares during the quarter. Hubbell accounts for 1.5% of Ceredex Value Advisors LLC's holdings, making the stock its 17th largest holding. Ceredex Value Advisors LLC owned about 0.34% of Hubbell worth $78,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Nvwm LLC purchased a new stake in shares of Hubbell during the 1st quarter worth $25,000. Quarry LP purchased a new stake in Hubbell during the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell during the 3rd quarter worth about $58,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Hubbell in the 2nd quarter valued at about $62,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Hubbell by 23.5% during the 2nd 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. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. 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 Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business's stock in a transaction on 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 directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

Hubbell stock traded down $1.33 during trading hours on Friday, reaching $425.70. 539,193 shares of the stock were exchanged, compared to its average volume of 442,942. Hubbell Incorporated has a 52-week low of $274.42 and a 52-week high of $461.77. The stock has a market cap of $22.85 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.60 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.66. The firm's 50 day moving average is $421.70 and its 200 day moving average is $395.78.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (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 firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the company posted $3.95 earnings per share. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. Analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HUBB shares. Mizuho upped their price target on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Stephens reaffirmed an "overweight" rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut shares of Hubbell from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and upped their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $434.38.

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.