Logan Capital Management Inc. Lowers Holdings in Hubbell Incorporated (NYSE:HUBB)

Logan Capital Management Inc. lowered its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,503 shares of the industrial products company’s stock after selling 275 shares during the quarter. Logan Capital Management Inc. owned 0.07% of Hubbell worth $15,208,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. IFG Advisory LLC acquired a new position in Hubbell during the second quarter worth $475,000. Acadian Asset Management LLC raised its holdings in Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after acquiring an additional 1,252 shares in the last quarter. LGT Capital Partners LTD. purchased a new position in Hubbell in the third quarter worth approximately $39,687,000. Private Advisor Group LLC grew its holdings in Hubbell by 89.0% during the 2nd quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock worth $1,713,000 after acquiring an additional 2,207 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock traded up $2.04 during mid-day trading on Friday, hitting $457.38. The stock had a trading volume of 22,152 shares, compared to its average volume of 437,410. The firm has a market cap of $24.55 billion, a PE ratio of 32.81, a PEG ratio of 1.70 and a beta of 0.91. The company’s 50-day simple moving average is $451.38 and its 200-day simple moving average is $407.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a fifty-two week low of $315.38 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 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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $3.95 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm 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 dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 38.04%.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of recent analyst reports. Barclays lifted their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upped their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Hubbell currently has an average rating of “Hold” and a consensus price target of $472.13.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, 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 link. 0.66% of the stock is owned by corporate insiders.

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.