QRG Capital Management Inc. Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

QRG Capital Management Inc. cut its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 42.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,937 shares of the industrial products company's stock after selling 5,157 shares during the period. QRG Capital Management Inc.'s holdings in Hubbell were worth $2,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. OLD National Bancorp IN raised its stake in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock valued at $255,000 after buying an additional 22 shares in the last quarter. CWM LLC grew its holdings in shares of Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company's stock worth $482,000 after purchasing an additional 28 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Hubbell by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company's stock worth $339,000 after purchasing an additional 30 shares during the last quarter. Detalus Advisors LLC grew its holdings in shares of Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock worth $377,000 after purchasing an additional 30 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company's stock worth $410,000 after purchasing an additional 30 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

Shares of HUBB stock traded down $5.14 during midday trading on Thursday, reaching $466.98. 483,084 shares of the company traded hands, compared to its average volume of 443,839. The firm's 50 day simple moving average is $426.63 and its two-hundred day simple moving average is $397.42. Hubbell Incorporated has a 1-year low of $278.62 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a market cap of $25.07 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90.

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, beating analysts' consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $3.95 EPS. The company's revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts expect 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 given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase 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%.

Insider Activity

In related news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.78% of the company's stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised Hubbell from a "hold" rating to a "buy" rating and raised their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Barclays raised their price objective on Hubbell from $400.00 to $402.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $445.56.

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.