Investment Management Corp of Ontario Acquires 600 Shares of Hubbell Incorporated (NYSE:HUBB)

Investment Management Corp of Ontario increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 50.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,784 shares of the industrial products company’s stock after purchasing an additional 600 shares during the period. Investment Management Corp of Ontario’s holdings in Hubbell were worth $764,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Cetera Investment Advisers grew its stake in shares of Hubbell by 280.6% in the first quarter. Cetera Investment Advisers now owns 5,991 shares of the industrial products company’s stock worth $2,486,000 after acquiring an additional 4,417 shares during the period. Cetera Advisors LLC purchased a new stake in Hubbell during the 1st quarter valued at $582,000. Park Avenue Securities LLC lifted its holdings in shares of Hubbell by 92.4% during the 2nd quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock valued at $851,000 after buying an additional 1,119 shares during the period. CWM LLC boosted its stake in shares of Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after buying an additional 28 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Hubbell by 0.8% in the second quarter. QRG Capital Management Inc. now owns 12,094 shares of the industrial products company’s stock worth $4,420,000 after acquiring an additional 99 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell 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 sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Down 1.1 %

HUBB opened at $461.97 on Friday. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm’s fifty day moving average is $449.29 and its 200 day moving average is $406.52. Hubbell Incorporated has a fifty-two week low of $303.06 and a fifty-two week high of $481.35.

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

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.14%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HUBB shares. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho increased their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $457.22.

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.