Hubbell Incorporated (NYSE:HUBB) Shares Bought by Blue Trust Inc.

Blue Trust Inc. boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 37.8% in the 4th quarter, Holdings Channel reports. The firm owned 714 shares of the industrial products company’s stock after purchasing an additional 196 shares during the period. Blue Trust Inc.’s holdings in Hubbell were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLD National Bancorp IN increased its position in shares of Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after buying an additional 22 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 25 shares in the last quarter. JGP Wealth Management LLC grew its stake in Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after buying an additional 26 shares during the period. Avestar Capital LLC increased its holdings in Hubbell by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 28 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after buying an additional 30 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HUBB shares. Barclays boosted their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Six investment 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.com, the company has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Performance

HUBB stock opened at $422.94 on Monday. The stock has a market cap of $22.70 billion, a P/E ratio of 30.47, a P/E/G ratio of 1.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a 50 day simple moving average of $439.29 and a 200 day simple moving average of $421.85. Hubbell Incorporated has a 52 week low of $334.17 and a 52 week high of $481.35.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.25%. Hubbell’s payout ratio is currently 38.04%.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

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.