Hubbell Incorporated (NYSE:HUBB) Shares Bought by Fulton Bank N.A.

Fulton Bank N.A. lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,796 shares of the industrial products company’s stock after buying an additional 48 shares during the quarter. Fulton Bank N.A.’s holdings in Hubbell were worth $1,171,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of 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 acquiring an additional 1,252 shares in the last quarter. LGT Capital Partners LTD. acquired a new position in Hubbell in the third quarter valued at approximately $39,687,000. Principal Financial Group Inc. increased its stake in Hubbell by 7.1% in the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after purchasing an additional 15,215 shares during the last quarter. Private Advisor Group LLC raised its holdings in Hubbell by 89.0% during the second 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 in the last quarter. Finally, Impax Asset Management Group plc lifted its position 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 buying an additional 279,654 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Up 0.2 %

NYSE:HUBB opened at $434.76 on Thursday. Hubbell Incorporated has a 12-month low of $319.03 and a 12-month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $444.93 and its 200-day simple moving average is $414.36. The firm has a market cap of $23.33 billion, a P/E ratio of 31.32, a PEG ratio of 1.69 and a beta of 0.93.

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

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $1.32 dividend. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s 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 approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Barclays lifted their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $471.50.

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.