Hubbell Incorporated (NYSE:HUBB) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its position in shares of Hubbell Incorporated (NYSE:HUBB) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,503 shares of the industrial products company’s stock after selling 275 shares during the quarter. Logan Capital Management Inc.’s holdings in Hubbell were worth $15,208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment increased its holdings in shares of Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Hubbell during the third quarter worth about $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $41,000. Quarry LP acquired a new position in shares of Hubbell in the 2nd quarter valued at about $49,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell during the 3rd quarter worth about $58,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HUBB. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein began 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. Wells Fargo & Company raised their price objective on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $472.13.

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 that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Up 0.4 %

NYSE HUBB traded up $2.04 during trading hours on Friday, reaching $457.38. 22,152 shares of the company traded hands, compared to its average volume of 437,410. The stock has a market capitalization of $24.55 billion, a PE ratio of 32.81, a PEG ratio of 1.70 and a beta of 0.91. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 12 month low of $315.38 and a 12 month high of $481.35. The company has a 50 day moving average of $451.38 and a two-hundred day moving average of $407.87.

Hubbell (NYSE:HUBB) last released its earnings results 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. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $3.95 EPS. Hubbell’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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%. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is 38.04%.

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.