Hubbell Incorporated (NYSE:HUBB) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,416 shares of the industrial products company’s stock after selling 112 shares during the period. Ironwood Investment Counsel LLC’s holdings in Hubbell were worth $1,892,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Mizuho Securities USA LLC lifted its holdings in Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after acquiring an additional 7,975,855 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after purchasing an additional 322,728 shares during the period. Bank of New York Mellon Corp boosted its holdings in Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after buying an additional 291,850 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hubbell by 268.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after buying an additional 168,380 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Price Performance

Shares of HUBB opened at $459.89 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1-year low of $295.60 and a 1-year high of $481.35. The stock has a market cap of $24.68 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. The firm has a fifty day moving average price of $445.68 and a 200 day moving average price of $404.26.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.95 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s payout ratio is presently 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.