Virtu Financial LLC Has $1.69 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Virtu Financial LLC decreased its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 60.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,938 shares of the industrial products company's stock after selling 5,920 shares during the quarter. Virtu Financial LLC's holdings in Hubbell were worth $1,686,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HUBB. M&T Bank Corp lifted its holdings in Hubbell by 0.5% during the 3rd quarter. M&T Bank Corp now owns 26,242 shares of the industrial products company's stock worth $11,241,000 after buying an additional 124 shares during the last quarter. Unigestion Holding SA acquired a new stake in shares of Hubbell during the 3rd quarter valued at approximately $861,000. Rehmann Capital Advisory Group lifted its stake in Hubbell by 2.5% during the third quarter. Rehmann Capital Advisory Group now owns 1,707 shares of the industrial products company's stock worth $731,000 after purchasing an additional 41 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Hubbell by 15.2% in the third quarter. Toronto Dominion Bank now owns 18,052 shares of the industrial products company's stock worth $7,733,000 after purchasing an additional 2,378 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in Hubbell by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,386 shares of the industrial products company's stock valued at $1,452,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HUBB. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Barclays lifted their target price on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Morgan Stanley increased their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered Hubbell from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $472.13.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company's stock.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $1.72 on Friday, hitting $453.62. The company's stock had a trading volume of 230,593 shares, compared to its average volume of 438,311. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a 12 month low of $315.38 and a 12 month high of $481.35. The stock's 50-day moving average is $451.38 and its two-hundred day moving average is $407.87.

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 analysts' consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell's revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.95 EPS. On average, equities research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. This is a positive change from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.16%. Hubbell's dividend payout ratio (DPR) is currently 38.04%.

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.