Wilmington Savings Fund Society FSB Makes New $247,000 Investment in Hubbell Incorporated (NYSE:HUBB)

Wilmington Savings Fund Society FSB bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 3rd quarter, Holdings Channel.com reports. The fund bought 576 shares of the industrial products company’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFG Advisory LLC acquired a new position in Hubbell during the 2nd quarter worth approximately $475,000. Acadian Asset Management LLC increased its position in Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after purchasing an additional 1,252 shares during the period. LGT Capital Partners LTD. acquired a new position in Hubbell during the 3rd quarter worth approximately $39,687,000. Private Advisor Group LLC increased its position in Hubbell by 89.0% during the 2nd quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock worth $1,713,000 after purchasing an additional 2,207 shares during the period. Finally, Impax Asset Management Group plc increased its position in Hubbell by 30.3% during 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 purchasing an additional 279,654 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several recent analyst reports. Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $472.13.

Hubbell Stock Performance

Hubbell stock opened at $439.33 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The stock has a fifty day moving average of $452.20 and a two-hundred day moving average of $408.82. The company has a market capitalization of $23.58 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 1.70 and a beta of 0.91. Hubbell Incorporated has a fifty-two week low of $315.38 and a fifty-two week high of $481.35.

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, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.95 earnings per share. On average, analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $1.32 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.20%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

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.