Hubbell Incorporated (NYSE:HUBB) Shares Bought by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,295 shares of the industrial products company's stock after acquiring an additional 6,891 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.13% of Hubbell worth $30,539,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Empowered Funds LLC purchased a new position in shares of Hubbell during the first quarter valued at $327,000. Davis R M Inc. bought a new position in shares of Hubbell during the first quarter valued at approximately $409,000. Rockport Wealth LLC purchased a new position in Hubbell during the first quarter valued at approximately $405,000. UniSuper Management Pty Ltd raised its stake in Hubbell by 394.8% in the first quarter. UniSuper Management Pty Ltd now owns 3,043 shares of the industrial products company's stock worth $1,263,000 after buying an additional 2,428 shares in the last quarter. Finally, InterOcean Capital Group LLC purchased a new stake in Hubbell during the first quarter worth $531,000. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

NYSE:HUBB traded up $7.32 during midday trading on Monday, hitting $444.93. The company's stock had a trading volume of 536,027 shares, compared to its average volume of 444,536. 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's 50 day moving average is $435.08 and its 200-day moving average is $399.99. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The firm has a market cap of $23.88 billion, a P/E ratio of 31.45, a P/E/G ratio of 1.63 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.95 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.19%. This is a positive change from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell's payout ratio is 38.04%.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered shares of Hubbell from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Stephens reissued an "overweight" rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Hubbell from a "hold" rating to a "buy" rating and boosted their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Hubbell currently has an average rating of "Moderate Buy" and an average price target of $445.56.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade 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.

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.