Hubbell Incorporated (NYSE:HUBB) Holdings Increased by Otter Creek Advisors LLC

Otter Creek Advisors LLC grew its position in shares of Hubbell Incorporated (NYSE:HUBB) by 22.2% during the third quarter, HoldingsChannel reports. The firm owned 13,867 shares of the industrial products company’s stock after buying an additional 2,523 shares during the period. Hubbell accounts for approximately 3.8% of Otter Creek Advisors LLC’s holdings, making the stock its 6th largest holding. Otter Creek Advisors LLC’s holdings in Hubbell were worth $5,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HUBB. EP Wealth Advisors LLC acquired a new stake in shares of Hubbell during the first quarter worth approximately $252,000. Lazard Asset Management LLC boosted its holdings in Hubbell by 85.3% in the first quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock worth $739,000 after purchasing an additional 820 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after purchasing an additional 286,134 shares during the period. Aristides Capital LLC acquired a new position in Hubbell in the first quarter worth $292,000. Finally, Mount Yale Investment Advisors LLC boosted its holdings in Hubbell by 10.0% in the first quarter. Mount Yale Investment Advisors LLC now owns 703 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Insider Buying and Selling

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

Hubbell Price Performance

Shares of Hubbell stock opened at $458.27 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The company’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 stock has a market cap of $24.60 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90.

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

Hubbell Increases Dividend

The business 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 $1.32 dividend. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

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.