Adams Diversified Equity Fund Inc. Sells 8,000 Shares of Hubbell Incorporated (NYSE:HUBB)

Adams Diversified Equity Fund Inc. lowered its position in Hubbell Incorporated (NYSE:HUBB) by 14.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,400 shares of the industrial products company’s stock after selling 8,000 shares during the period. Adams Diversified Equity Fund Inc. owned about 0.09% of Hubbell worth $20,304,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. OLD National Bancorp IN boosted its stake in Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 22 shares during the period. CWM LLC boosted its stake in 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 purchasing an additional 28 shares during the period. Meeder Advisory Services Inc. boosted its stake in Hubbell by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 30 shares during the period. Detalus Advisors LLC boosted its stake in Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 30 shares during the period. Finally, Ballentine Partners LLC boosted its stake in Hubbell by 3.2% in 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 during the period. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

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

Wall Street Analyst Weigh In

HUBB has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and increased their price objective for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens restated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Morgan Stanley initiated coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho increased their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Five 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $428.13.

Hubbell Trading Down 2.1 %

Shares of NYSE:HUBB opened at $440.12 on Wednesday. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $461.77. The company has a market capitalization of $23.63 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90. The company has a 50-day simple moving average of $418.82 and a 200 day simple moving average of $395.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.95 EPS. Sell-side analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued 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 yield of 1.20%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio is currently 36.39%.

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.