Hubbell Incorporated (NYSE:HUBB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 316,641 shares of the industrial products company's stock after selling 12,690 shares during the period. Victory Capital Management Inc. owned 0.59% of Hubbell worth $135,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell in the third quarter worth approximately $41,000. Quarry LP acquired a new position in shares of Hubbell in the 2nd quarter valued at $49,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell during the 3rd quarter valued at $58,000. GAMMA Investing LLC increased its holdings in shares of Hubbell by 84.7% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company's stock worth $67,000 after buying an additional 72 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Hubbell in the 2nd quarter worth $62,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analysts Set New Price Targets

HUBB has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded Hubbell from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price for the company. Barclays lifted their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $445.56.

Hubbell Stock Up 0.4 %

Hubbell stock traded up $1.76 during midday trading on Wednesday, hitting $453.79. 518,895 shares of the stock were exchanged, compared to its average volume of 444,615. 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 company has a 50 day moving average price of $432.35 and a two-hundred day moving average price of $399.10. The firm has a market cap of $24.36 billion, a P/E ratio of 32.69, a P/E/G ratio of 1.68 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $287.06 and a 1 year high of $481.35.

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

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid 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 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, November 29th. Hubbell's dividend payout ratio is 38.04%.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company's stock, valued at approximately $1,378,553.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company's stock.

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.