Caprock Group LLC Has $1.78 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Caprock Group LLC decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,158 shares of the industrial products company’s stock after selling 26 shares during the quarter. Caprock Group LLC’s holdings in Hubbell were worth $1,781,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Mizuho Securities USA LLC grew its position in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after buying an additional 7,975,855 shares during the period. Bank of New York Mellon Corp grew its position in shares of Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after buying an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after buying an additional 286,134 shares during the period. International Assets Investment Management LLC grew its position in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after buying an additional 1,915,383 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Hubbell by 3.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after buying an additional 46,813 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HUBB. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Barclays lifted their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Insider Transactions at Hubbell

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 transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.78% of the company’s stock.

Hubbell Price Performance

HUBB opened at $445.58 on Thursday. 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 company has a market capitalization of $23.91 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 1.63 and a beta of 0.90. The firm’s fifty day moving average price is $437.86 and its two-hundred day moving average price is $401.00. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $3.95 EPS. As a group, analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s payout ratio is presently 35.16%.

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.