Thrivent Financial for Lutherans Has $3.59 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Thrivent Financial for Lutherans boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 286.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,381 shares of the industrial products company’s stock after purchasing an additional 6,215 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Hubbell were worth $3,590,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. IFG Advisory LLC acquired a new position in shares of Hubbell during the 2nd quarter valued at $475,000. Acadian Asset Management LLC raised its holdings in shares of Hubbell by 51.3% during 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 purchasing an additional 1,252 shares during the period. Great Valley Advisor Group Inc. boosted its position in shares of Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after purchasing an additional 1,359 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Hubbell by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after buying an additional 2,822 shares during the period. Finally, Cetera Advisors LLC bought a new stake in Hubbell in the 1st quarter valued at about $582,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.78% of the stock is owned by insiders.

Hubbell Stock Up 0.6 %

HUBB opened at $463.78 on Tuesday. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The firm has a market capitalization of $24.89 billion, a P/E ratio of 33.41, a PEG ratio of 1.71 and a beta of 0.90. The company’s 50-day moving average is $441.22 and its 200 day moving average is $402.32. 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 (NYSE:HUBB) last announced its earnings results 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. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.95 EPS. Research analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is presently 35.16%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. lowered 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 target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Stephens restated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Mizuho raised their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays boosted their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $445.56.

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.