New York State Common Retirement Fund Sells 12,200 Shares of Hubbell Incorporated (NYSE:HUBB)

New York State Common Retirement Fund trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 13.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,800 shares of the industrial products company’s stock after selling 12,200 shares during the quarter. New York State Common Retirement Fund owned 0.14% of Hubbell worth $33,326,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. OLD National Bancorp IN raised its holdings in Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after buying an additional 22 shares during the last quarter. CWM LLC raised its holdings in shares of Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in Hubbell by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 30 shares in the last quarter. Detalus Advisors LLC boosted its stake in Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 30 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Performance

Shares of HUBB stock opened at $425.70 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.66. The firm has a market cap of $22.85 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 1.59 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $274.42 and a 52 week high of $461.77. The firm’s 50-day simple moving average is $421.70 and its two-hundred day simple moving average is $395.78.

Hubbell (NYSE:HUBB) last posted 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. 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 firm posted $3.95 EPS. Hubbell’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Hubbell Incorporated will post 16.46 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared 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 an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. Hubbell’s dividend payout ratio is presently 35.16%.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HUBB shares. Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their price target for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $434.38.

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.