1,020 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,020 shares of the industrial products company’s stock, valued at approximately $427,000.

A number of other large investors also recently made changes to their positions in HUBB. Groupama Asset Managment lifted its position in Hubbell by 17.0% during the third 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 period. Prospera Private Wealth LLC purchased a new position in shares of Hubbell during the 3rd quarter worth about $33,000. Versant Capital Management Inc lifted its holdings in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Hubbell in the third quarter valued at approximately $41,000. Finally, Quarry LP acquired a new position in Hubbell during the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated 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 owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HUBB shares. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Barclays raised their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $472.13.

Hubbell Stock Up 2.6 %

Shares of NYSE:HUBB opened at $430.96 on Monday. The company has a 50 day moving average of $445.25 and a two-hundred day moving average of $413.35. Hubbell Incorporated has a 52-week low of $315.38 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. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93.

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

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.23%. Hubbell’s payout ratio is currently 38.04%.

About Hubbell

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.