Hubbell Incorporated (NYSE:HUBB) Shares Bought by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lifted its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 26.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,144 shares of the industrial products company's stock after acquiring an additional 1,886 shares during the period. Salem Investment Counselors Inc.'s holdings in Hubbell were worth $3,830,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in HUBB. Czech National Bank grew its holdings in Hubbell by 6.4% during the 4th quarter. Czech National Bank now owns 11,637 shares of the industrial products company's stock valued at $4,875,000 after purchasing an additional 702 shares in the last quarter. LVM Capital Management Ltd. MI grew its holdings in Hubbell by 3.7% during the 4th quarter. LVM Capital Management Ltd. MI now owns 27,506 shares of the industrial products company's stock worth $11,522,000 after acquiring an additional 976 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Hubbell by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,435 shares of the industrial products company's stock worth $2,328,000 after acquiring an additional 61 shares in the last quarter. Douglas Lane & Associates LLC grew its holdings in Hubbell by 158.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,690 shares of the industrial products company's stock worth $1,127,000 after acquiring an additional 1,650 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in Hubbell by 1.7% during the 4th quarter. Fulton Bank N.A. now owns 2,796 shares of the industrial products company's stock worth $1,171,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Hubbell from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Wells Fargo & Company reduced their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Barclays raised their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a "buy" rating to a "hold" rating and reduced their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $471.50.

Hubbell Stock Performance

NYSE:HUBB traded down $0.46 during mid-day trading on Monday, hitting $419.79. The stock had a trading volume of 692,143 shares, compared to its average volume of 414,048. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 1.69 and a beta of 0.93. The company has a 50 day simple moving average of $445.06 and a 200-day simple moving average of $415.49. Hubbell Incorporated has a 52 week low of $319.06 and a 52 week high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations 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 last year, the company earned $3.95 EPS. On average, research analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $1.32 per share. This is a boost from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.26%. Hubbell's dividend payout ratio (DPR) is presently 38.04%.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares of the company's stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

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.