Janney Montgomery Scott LLC Grows Stock Position in Hubbell Incorporated (NYSE:HUBB)

Janney Montgomery Scott LLC boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 5.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,917 shares of the industrial products company’s stock after acquiring an additional 640 shares during the period. Janney Montgomery Scott LLC’s holdings in Hubbell were worth $5,533,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after buying an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Hubbell by 3.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after purchasing an additional 46,813 shares in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after buying an additional 322,728 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday. They set an “outperform” rating and a $535.00 price objective for the company. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Mizuho boosted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $467.94 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a one year low of $281.45 and a one year high of $481.35. The company has a 50-day simple moving average of $427.99 and a 200-day simple moving average of $397.96. The stock has a market capitalization of $25.12 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted 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 return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $3.95 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is presently 35.16%.

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.