596 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. bought a new position in Hubbell Incorporated (NYSE:HUBB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 596 shares of the industrial products company’s stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds have also bought and sold shares of HUBB. Oppenheimer Asset Management Inc. grew its holdings in shares of Hubbell by 37.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,321 shares of the industrial products company’s stock valued at $566,000 after purchasing an additional 357 shares during the last quarter. Bancreek Capital Management LP purchased a new stake in Hubbell during the third quarter valued at about $7,712,000. Nations Financial Group Inc. IA ADV grew its stake in shares of Hubbell by 3.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 5,484 shares of the industrial products company’s stock valued at $2,349,000 after buying an additional 176 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the third quarter valued at about $41,000. Finally, Sustainable Insight Capital Management LLC increased its holdings in shares of Hubbell by 18.1% in the third quarter. Sustainable Insight Capital Management LLC now owns 8,500 shares of the industrial products company’s stock worth $3,641,000 after buying an additional 1,300 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on HUBB. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and raised their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company raised their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Finally, Sanford C. Bernstein assumed coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the 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 sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Up 0.9 %

Shares of NYSE:HUBB opened at $460.81 on Friday. 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 52-week low of $293.91 and a 52-week high of $481.35. The firm has a market capitalization of $24.73 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.68 and a beta of 0.90. The stock has a 50 day moving average price of $440.09 and a 200-day moving average price of $401.71.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.95 earnings per share. As a group, equities research analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed 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 represents a $5.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is 38.04%.

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.