Jacobs & Co. CA Reduces Stake in Hubbell Incorporated (NYSE:HUBB)

Jacobs & Co. CA reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,789 shares of the industrial products company’s stock after selling 1,038 shares during the quarter. Jacobs & Co. CA’s holdings in Hubbell were worth $3,257,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Hubbell by 6.8% during the 2nd quarter. BlackRock Inc. now owns 6,341,754 shares of the industrial products company’s stock worth $826,962,000 after purchasing an additional 401,473 shares during the period. Vanguard Group Inc. grew its holdings in shares of Hubbell by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,558,703 shares of the industrial products company’s stock worth $724,855,000 after purchasing an additional 29,729 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Hubbell by 8.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,226,219 shares of the industrial products company’s stock worth $159,899,000 after purchasing an additional 96,401 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Hubbell by 1.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,304 shares of the industrial products company’s stock worth $136,828,000 after purchasing an additional 17,257 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Hubbell by 29.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,002,921 shares of the industrial products company’s stock worth $130,781,000 after purchasing an additional 227,905 shares during the period. Institutional investors own 85.92% of the company’s stock.

HUBB traded up $1.46 during mid-day trading on Friday, hitting $145.50. 207,305 shares of the stock were exchanged, compared to its average volume of 312,314. The firm’s fifty day moving average is $135.49 and its two-hundred day moving average is $128.38. Hubbell Incorporated has a 1-year low of $91.88 and a 1-year high of $146.81. The company has a current ratio of 2.09, a quick ratio of 1.33 and a debt-to-equity ratio of 0.89. The company has a market cap of $7.90 billion, a PE ratio of 19.96, a PEG ratio of 1.94 and a beta of 1.50.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.07. Hubbell had a return on equity of 23.47% and a net margin of 8.34%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned $2.34 EPS. Hubbell’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Hubbell Incorporated will post 8.07 earnings per share for the current year.

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 paid a dividend of $0.91 per share. This is a positive change from Hubbell’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.64 annualized dividend and a yield of 2.50%. Hubbell’s dividend payout ratio is presently 46.09%.

Several research firms recently issued reports on HUBB. G.Research reissued a “buy” rating on shares of Hubbell in a research note on Wednesday, August 21st. JPMorgan Chase & Co. increased their target price on Hubbell from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Gabelli began coverage on Hubbell in a research note on Wednesday, August 21st. They set a “buy” rating and a $160.00 target price on the stock. Finally, Morgan Stanley set a $138.00 target price on Hubbell and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Hubbell currently has an average rating of “Buy” and an average price target of $146.67.

In other Hubbell news, VP Joseph Anthony Capozzoli sold 1,243 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $142.39, for a total value of $176,990.77. Following the sale, the vice president now owns 10,812 shares of the company’s stock, valued at approximately $1,539,520.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rodd Richard Ruland sold 3,594 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.96, for a total value of $517,392.24. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Hubbell Profile

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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