Pitcairn Co. Sells 194 Shares of Hubbell Incorporated (NYSE:HUBB)

Pitcairn Co. decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 17.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 931 shares of the industrial products company’s stock after selling 194 shares during the period. Pitcairn Co.’s holdings in Hubbell were worth $399,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HUBB. IFG Advisory LLC purchased a new position in Hubbell in the second quarter valued at about $475,000. Acadian Asset Management LLC lifted its holdings in 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 during the period. Great Valley Advisor Group Inc. increased its holdings in shares of Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 1,359 shares in the last quarter. LGT Capital Partners LTD. acquired a new position in shares of Hubbell in the 3rd quarter valued at $39,687,000. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Hubbell by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after purchasing an additional 2,822 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays lifted their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and an average target price of $449.11.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated 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 owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Down 0.7 %

Shares of NYSE:HUBB opened at $460.55 on Wednesday. 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 company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 1.71 and a beta of 0.90. Hubbell Incorporated has a 12-month low of $293.91 and a 12-month high of $481.35. The business has a 50-day moving average price of $443.30 and a 200 day moving average price of $403.08.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.95 EPS. 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 will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is 38.04%.

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.