481 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by DRW Securities LLC

DRW Securities LLC bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 481 shares of the industrial products company’s stock, valued at approximately $206,000.

Other institutional investors also recently bought and sold shares of the company. OLD National Bancorp IN lifted its holdings in shares of Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 22 shares during the last quarter. CWM LLC raised its stake in Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after buying an additional 28 shares during the last quarter. Detalus Advisors LLC boosted its holdings in Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares in the last quarter. Finally, Savant Capital LLC grew its stake in shares of Hubbell by 2.6% during the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 31 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE HUBB opened at $458.81 on Thursday. The firm has a market capitalization of $24.62 billion, a P/E ratio of 33.06, a PEG ratio of 1.73 and a beta of 0.90. The stock has a 50-day simple moving average of $444.28 and a two-hundred day simple moving average of $403.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $3.95 earnings per share. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is currently 35.16%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell 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 transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a report on Tuesday. Morgan Stanley boosted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Finally, Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $449.11.

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.