Hubbell Incorporated (NYSE:HUBB) Stake Lifted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,417,476 shares of the industrial products company’s stock after buying an additional 82,258 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Hubbell were worth $607,176,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in shares of Hubbell in the 3rd quarter worth $33,000. Ashton Thomas Securities LLC bought a new stake in Hubbell in the third quarter worth about $41,000. Quarry LP bought a new stake in Hubbell in the second quarter worth about $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $58,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell during the 2nd quarter valued at about $62,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HUBB. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company raised their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein started coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Price Performance

Shares of HUBB opened at $458.27 on Friday. 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 market capitalization of $24.60 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 1.68 and a beta of 0.90. The business’s 50-day moving average is $438.91 and its 200-day moving average is $401.31. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $3.95 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is 38.04%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’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 completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

About Hubbell

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.