Douglas Lane & Associates LLC Buys 1,650 Shares of Hubbell Incorporated (NYSE:HUBB)

Douglas Lane & Associates LLC lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 158.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,690 shares of the industrial products company’s stock after acquiring an additional 1,650 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Hubbell were worth $1,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in shares of Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after acquiring an additional 1,252 shares in the last quarter. LGT Capital Partners LTD. bought a new stake in Hubbell during the 3rd quarter valued at approximately $39,687,000. Principal Financial Group Inc. lifted its holdings in Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after purchasing an additional 15,215 shares in the last quarter. Private Advisor Group LLC boosted its stake in Hubbell by 89.0% in 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 grew its holdings 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 valued at $514,377,000 after buying an additional 279,654 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HUBB shares. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Mizuho increased their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. downgraded 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 research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hubbell presently has an average rating of “Hold” and an average target price of $471.50.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Up 0.2 %

Shares of HUBB opened at $434.76 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $444.93 and a 200 day moving average of $414.36. The company has a market cap of $23.33 billion, a PE ratio of 31.32, a P/E/G ratio of 1.69 and a beta of 0.93. Hubbell Incorporated has a 52-week low of $319.03 and a 52-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 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $3.95 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

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.