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

Douglas Lane & Associates LLC lifted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 158.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in Hubbell during the third quarter worth $33,000. Versant Capital Management Inc lifted its stake in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Hubbell during the third quarter valued at about $41,000. Quarry LP purchased a new position in Hubbell in the second quarter valued at about $49,000. Finally, Northwest Investment Counselors LLC bought a new position in Hubbell in the third quarter worth about $58,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 0.2 %

Shares of NYSE: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. Hubbell Incorporated has a 52-week low of $319.03 and a 52-week high of $481.35. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.69 and a beta of 0.93. The business has a 50-day moving average price of $444.93 and a 200-day moving average price of $414.36.

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

Hubbell Increases Dividend

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

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction dated 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 owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HUBB. Barclays lifted their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.