Donaldson Capital Management LLC Has $2.33 Million Holdings in Hubbell Incorporated (HUBB)

Donaldson Capital Management LLC boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 25.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,458 shares of the industrial products company’s stock after acquiring an additional 3,490 shares during the quarter. Donaldson Capital Management LLC’s holdings in Hubbell were worth $2,332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of Hubbell by 46.5% in the 2nd quarter. American Century Companies Inc. now owns 2,792,582 shares of the industrial products company’s stock valued at $295,288,000 after purchasing an additional 885,909 shares in the last quarter. FMR LLC raised its position in shares of Hubbell by 25.5% in the 2nd quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock valued at $175,788,000 after purchasing an additional 337,915 shares in the last quarter. BlackRock Inc. raised its position in shares of Hubbell by 7.1% in the 2nd quarter. BlackRock Inc. now owns 4,951,945 shares of the industrial products company’s stock valued at $523,619,000 after purchasing an additional 329,485 shares in the last quarter. Selz Capital LLC acquired a new position in shares of Hubbell in the 2nd quarter valued at approximately $26,224,000. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Hubbell in the 2nd quarter valued at approximately $19,419,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.

A number of brokerages have issued reports on HUBB. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research report on Thursday, October 4th. Morgan Stanley began coverage on Hubbell in a research report on Tuesday, August 21st. They issued an “overweight” rating and a $133.00 target price on the stock. ValuEngine raised Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $140.00 target price (up from $135.00) on shares of Hubbell in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Hubbell has a consensus rating of “Buy” and an average price target of $137.83.

HUBB stock opened at $110.00 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The company has a market cap of $6.06 billion, a P/E ratio of 15.55, a PEG ratio of 1.52 and a beta of 1.34. Hubbell Incorporated has a 12-month low of $97.02 and a 12-month high of $149.03.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.11. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Hubbell had a return on equity of 23.08% and a net margin of 6.88%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 EPS. Sell-side analysts expect that Hubbell Incorporated will post 7.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.84 per share. This is a positive change from Hubbell’s previous quarterly dividend of $0.77. This represents a $3.36 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, November 29th. Hubbell’s dividend payout ratio is currently 51.94%.

In other news, Director John F. Malloy purchased 994 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average cost of $100.82 per share, with a total value of $100,215.08. Following the transaction, the director now owns 13,020 shares in the company, valued at approximately $1,312,676.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Neal J. Keating acquired 1,000 shares of the stock in a transaction that occurred on Monday, October 29th. The shares were bought at an average price of $101.55 per share, with a total value of $101,550.00. Following the completion of the purchase, the director now owns 6,971 shares in the company, valued at $707,905.05. The disclosure for this purchase can be found here. Corporate insiders own 0.69% of the company’s stock.

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About Hubbell

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.

See Also: Average Daily Trade Volume – ADTV

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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