Maven Securities LTD Acquires Shares of 2,070 Hubbell Incorporated (NYSE:HUBB)

Maven Securities LTD acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,070 shares of the industrial products company’s stock, valued at approximately $887,000.

Several other large investors also recently bought and sold shares of HUBB. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell during the third quarter worth about $33,000. Ashton Thomas Securities LLC purchased a new position in Hubbell during the third quarter worth about $41,000. Quarry LP purchased a new position in Hubbell during the second quarter worth about $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell during the third quarter worth about $58,000. Finally, GAMMA Investing LLC raised its holdings in Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’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 transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $449.11.

Hubbell Trading Up 2.5 %

Shares of HUBB opened at $469.17 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $447.85 and a 200-day simple moving average of $405.65. Hubbell Incorporated has a 1-year low of $295.90 and a 1-year high of $481.35. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping 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 analysts’ expectations of $1.48 billion. During the same period last year, the company posted $3.95 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a yield of 1.13%. This is a positive change 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.