Fort Washington Investment Advisors Inc. OH Has $80.62 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Fort Washington Investment Advisors Inc. OH reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,454 shares of the industrial products company’s stock after selling 25,196 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.36% of Hubbell worth $80,617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Mizuho Securities USA LLC boosted its position in Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after buying an additional 7,975,855 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after acquiring an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after acquiring an additional 279,654 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after acquiring an additional 168,380 shares during the last quarter. Finally, LGT Capital Partners LTD. acquired a new stake in Hubbell during the 3rd quarter valued at $39,687,000. 88.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Morgan Stanley increased their price objective 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. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Barclays upped their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $471.50.

Hubbell Trading Up 3.0 %

HUBB opened at $450.58 on Wednesday. The firm has a 50 day simple moving average of $441.97 and a 200 day simple moving average of $418.17. Hubbell Incorporated has a fifty-two week low of $326.13 and a fifty-two week high of $481.35. The company has a market cap of $24.18 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.95 EPS. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.17%. Hubbell’s dividend payout ratio is presently 38.04%.

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.