Hubbell Inc $HUBB Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its holdings in Hubbell Inc (NYSE:HUBB) by 14.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 8,217 shares of the industrial products company’s stock after selling 1,421 shares during the period. ProShare Advisors LLC’s holdings in Hubbell were worth $3,727,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HUBB. Cidel Asset Management Inc. boosted its holdings in Hubbell by 13.4% during the 3rd quarter. Cidel Asset Management Inc. now owns 9,157 shares of the industrial products company’s stock valued at $4,154,000 after acquiring an additional 1,085 shares during the period. MGO One Seven LLC grew its position in Hubbell by 4.3% in the 3rd quarter. MGO One Seven LLC now owns 770 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 32 shares in the last quarter. International Assets Investment Management LLC grew its position in Hubbell by 6,586.7% in the 3rd quarter. International Assets Investment Management LLC now owns 200,000 shares of the industrial products company’s stock valued at $90,720,000 after acquiring an additional 197,009 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in Hubbell during the third quarter worth about $776,000. Finally, North Dakota State Investment Board increased its stake in Hubbell by 1.9% during the third quarter. North Dakota State Investment Board now owns 1,622 shares of the industrial products company’s stock worth $736,000 after purchasing an additional 31 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Mizuho set a $515.00 price objective on shares of Hubbell in a research note on Wednesday, October 28th. Robert W. Baird cut their target price on shares of Hubbell from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Hubbell from $485.00 to $486.00 and gave the company a “neutral” rating in a research report on Wednesday, October 28th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $546.00.

Hubbell Stock Down 4.4%

Shares of NYSE:HUBB opened at $418.82 on Friday. The firm’s 50 day moving average price is $456.55 and its 200 day moving average price is $486.85. The stock has a market cap of $22.13 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 2.09 and a beta of 0.84. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50. The company has a quick ratio of 0.87, a current ratio of 1.53 and a debt-to-equity ratio of 1.09.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $5.75 by $0.16. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. The company’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $5.17 EPS. As a group, equities research analysts predict that Hubbell Inc will post 20.55 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $1.52 per share. The ex-dividend date is Monday, November 30th. This represents a $6.08 annualized dividend and a dividend yield of 1.5%. This is a boost from Hubbell’s previous quarterly dividend of $1.42. Hubbell’s payout ratio is presently 33.29%.

Insider Activity

In related news, VP Jonathan Del Nero sold 547 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president directly owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This trade represents a 15.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Hubbell Profile

Hubbell Incorporated (NYSE:HUBB) is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell’s Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.