New York State Common Retirement Fund Has $33.33 Million Stake in Hubbell Incorporated (NYSE:HUBB)

New York State Common Retirement Fund trimmed its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,800 shares of the industrial products company's stock after selling 12,200 shares during the quarter. New York State Common Retirement Fund owned 0.14% of Hubbell worth $33,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nvwm LLC bought a new position in Hubbell during the first quarter valued at about $25,000. Quarry LP bought a new stake in shares of Hubbell during the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell in the third quarter valued at $58,000. Ashton Thomas Private Wealth LLC bought a new position in Hubbell in the second quarter worth $62,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in 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 buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Activity

In other news, CEO Gerben Bakker sold 15,677 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company's stock, valued at $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Gerben Bakker sold 15,677 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Carlos M. Cardoso sold 450 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Hubbell Price Performance

Shares of HUBB stock traded down $1.33 during trading hours on Friday, hitting $425.70. 539,193 shares of the company's stock were exchanged, compared to its average volume of 373,754. 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 price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.59 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 1.13. The stock's 50-day moving average is $421.70 and its 200-day moving average is $395.81.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating 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 quarter last year, the company posted $3.95 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Hubbell Incorporated will post 16.46 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.24%. This is a positive change from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell's dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HUBB shares. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and raised their price target for the stock 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 upped their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company raised 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. Finally, Barclays upped their price target on Hubbell from $400.00 to $402.00 and gave the company an "equal weight" rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $434.38.

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.