QRG Capital Management Inc. Sells 5,157 Shares of Hubbell Incorporated (NYSE:HUBB)

QRG Capital Management Inc. trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 42.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,937 shares of the industrial products company’s stock after selling 5,157 shares during the period. QRG Capital Management Inc.’s holdings in Hubbell were worth $2,972,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Nvwm LLC purchased a new stake in shares of Hubbell in the first quarter worth $25,000. Quarry LP bought a new position in Hubbell in the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell in the 3rd quarter valued at about $58,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hubbell during the 2nd quarter valued at about $62,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price 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. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays increased their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein began coverage on Hubbell in a research note on Tuesday. They set an “outperform” rating and a $535.00 price target for the company. Finally, Mizuho upped their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Up 7.4 %

Shares of NYSE:HUBB opened at $472.12 on Thursday. Hubbell Incorporated has a 12-month low of $274.42 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 moving average price is $425.20 and its 200-day moving average price is $396.93. The stock has a market capitalization of $25.34 billion, a P/E ratio of 34.01, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced 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 return on equity of 28.81% and a net margin of 13.33%. The business 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 firm earned $3.95 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.12%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 35.16%.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.78% of the company’s stock.

About Hubbell

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.