Northwest & Ethical Investments L.P. Sells 112 Shares of Hubbell Incorporated (NYSE:HUBB)

Northwest & Ethical Investments L.P. lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,216 shares of the industrial products company’s stock after selling 112 shares during the period. Northwest & Ethical Investments L.P. owned 0.12% of Hubbell worth $26,650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HUBB. Lazard Asset Management LLC increased its holdings in Hubbell by 85.3% in the 1st quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock worth $739,000 after buying an additional 820 shares during the period. Janus Henderson Group PLC lifted its position in Hubbell by 6.5% during the first quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock valued at $2,731,000 after purchasing an additional 403 shares during the period. Tidal Investments LLC lifted its position in Hubbell by 499.3% during the first quarter. Tidal Investments LLC now owns 4,992 shares of the industrial products company’s stock valued at $2,072,000 after purchasing an additional 4,159 shares during the period. Plato Investment Management Ltd purchased a new stake in Hubbell in the first quarter valued at $552,000. Finally, Wahed Invest LLC grew its position in Hubbell by 14.8% during the 1st quarter. Wahed Invest LLC now owns 1,049 shares of the industrial products company’s stock worth $435,000 after purchasing an additional 135 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of NYSE HUBB traded down $1.89 during midday trading on Thursday, hitting $458.85. The stock had a trading volume of 253,964 shares, compared to its average volume of 443,969. 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 has a 50 day simple moving average of $444.28 and a 200-day simple moving average of $403.47. The company has a market capitalization of $24.63 billion, a PE ratio of 33.06, a P/E/G ratio of 1.73 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company posted $3.95 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm 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 dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 35.16%.

Analysts Set New Price Targets

HUBB has been the subject of a number of analyst 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 report on Thursday, October 10th. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $449.11.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by insiders.

Hubbell Company 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.