Hubbell Incorporated (NYSE:HUBB) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its stake in Hubbell Incorporated (NYSE:HUBB) by 4.6% in the third quarter, HoldingsChannel reports. The fund owned 4,232 shares of the industrial products company’s stock after selling 205 shares during the period. Gulf International Bank UK Ltd’s holdings in Hubbell were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Impax Asset Management Group plc boosted its stake in shares of 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 acquiring an additional 279,654 shares in the last quarter. Arlington Capital Management Inc. acquired a new position in Hubbell in the 3rd quarter worth about $651,000. Vestor Capital LLC boosted its position in Hubbell by 100.0% during the third quarter. Vestor Capital LLC now owns 4,126 shares of the industrial products company’s stock worth $1,767,000 after purchasing an additional 2,063 shares in the last quarter. BSW Wealth Partners acquired a new stake in Hubbell in the third quarter valued at approximately $210,000. Finally, Van ECK Associates Corp increased its position in shares of Hubbell by 11.0% in the third quarter. Van ECK Associates Corp now owns 9,741 shares of the industrial products company’s stock valued at $4,332,000 after buying an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 1.1 %

Shares of Hubbell stock opened at $466.98 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 stock’s 50 day simple moving average is $426.63 and its 200-day simple moving average is $397.42. The stock has a market cap of $25.07 billion, a P/E ratio of 33.64, a P/E/G ratio of 1.58 and a beta of 0.90. Hubbell Incorporated has a 1-year low of $278.62 and a 1-year high of $481.35.

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

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 35.16%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HUBB shares. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday. They set an “outperform” rating and a $535.00 target price on the stock. Barclays increased their price objective on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Mizuho upped their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

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.