Hubbell Incorporated (NYSE:HUBB) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in Hubbell Incorporated (NYSE:HUBB) by 6.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,417,476 shares of the industrial products company’s stock after purchasing an additional 82,258 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.64% of Hubbell worth $607,176,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. EP Wealth Advisors LLC purchased a new stake in shares of Hubbell in the first quarter valued at $252,000. Lazard Asset Management LLC raised its position in shares of Hubbell by 85.3% in the first quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock valued at $739,000 after buying an additional 820 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Hubbell by 16.9% during the first 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 buying an additional 286,134 shares during the period. Aristides Capital LLC purchased a new position in shares of Hubbell during the 1st quarter worth $292,000. Finally, Mount Yale Investment Advisors LLC grew its position in shares of Hubbell by 10.0% in the first quarter. Mount Yale Investment Advisors LLC now owns 703 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 64 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $458.27 on Friday. The stock has a market capitalization of $24.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.68 and a beta of 0.90. The firm’s 50-day moving average price is $438.91 and its two-hundred day moving average price is $401.31. Hubbell Incorporated has a 52-week low of $293.91 and a 52-week high of $481.35. 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 (NYSE:HUBB) last released its quarterly earnings data 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 business 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 business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.95 EPS. As a group, sell-side analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 38.04%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HUBB shares. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a report on Friday, September 6th. JPMorgan Chase & Co. downgraded 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 report on Thursday, October 10th. Finally, Mizuho lifted their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

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.