LGT Financial Advisors LLC Sells 95 Shares of Hubbell Incorporated (NYSE:HUBB)

LGT Financial Advisors LLC lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 30.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 212 shares of the industrial products company’s stock after selling 95 shares during the period. LGT Financial Advisors LLC’s holdings in Hubbell were worth $91,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after buying an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Hubbell by 42,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after buying an additional 1,915,383 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after buying an additional 46,813 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 period. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on HUBB. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday. They issued an “outperform” rating and a $535.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their price target for the company from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Mizuho lifted their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on 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 sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is currently owned by company insiders.

Hubbell Stock Up 7.4 %

NYSE HUBB opened at $472.12 on Thursday. 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 Incorporated has a 52 week low of $274.42 and a 52 week high of $481.35. 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 stock has a fifty day moving average of $425.20 and a 200-day moving average of $396.93.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $3.95 earnings per share. On average, equities research analysts forecast 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. Investors of record on Friday, November 29th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.12%. 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 35.16%.

Hubbell 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.