State Street Corp Purchases 22,507 Shares of Hubbell Incorporated (NYSE:HUBB)

State Street Corp boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,092,215 shares of the industrial products company's stock after buying an additional 22,507 shares during the quarter. State Street Corp owned approximately 3.90% of Hubbell worth $896,200,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HUBB. IFG Advisory LLC bought a new position in shares of Hubbell during the 2nd quarter valued at approximately $475,000. Acadian Asset Management LLC grew its holdings in Hubbell by 51.3% during the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company's stock valued at $1,347,000 after purchasing an additional 1,252 shares during the period. Great Valley Advisor Group Inc. increased its position in Hubbell by 24.6% in the second quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company's stock worth $2,511,000 after buying an additional 1,359 shares during the last quarter. LGT Capital Partners LTD. bought a new stake in shares of Hubbell in the third quarter valued at $39,687,000. Finally, Cetera Advisors LLC purchased a new position in shares of Hubbell during the 1st quarter valued at $582,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company's stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company's stock.

Hubbell Price Performance

Shares of HUBB stock traded down $5.15 during trading on Friday, hitting $461.97. The company had a trading volume of 429,490 shares, compared to its average volume of 395,754. Hubbell Incorporated has a 52 week low of $303.06 and a 52 week high of $481.35. The stock has a market capitalization of $24.79 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average is $449.29 and its two-hundred day moving average is $406.54.

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 for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the company posted $3.95 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. As a group, 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. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This is a boost from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, November 29th. Hubbell's dividend payout ratio (DPR) is presently 38.04%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Hubbell from $445.00 to $455.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut shares of Hubbell from an "overweight" rating to a "neutral" rating and upped their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and reduced their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays increased their target price on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Mizuho lifted their price target on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $457.22.

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.