Hubbell Incorporated (NYSE:HUBB) Stock Position Reduced by International Assets Investment Management LLC

International Assets Investment Management LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 99.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,471 shares of the industrial products company’s stock after selling 1,915,394 shares during the period. International Assets Investment Management LLC’s holdings in Hubbell were worth $1,878,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Groupama Asset Managment increased its stake in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Hubbell during the third quarter valued at $33,000. Versant Capital Management Inc grew its stake in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Hubbell in the 3rd quarter worth about $41,000. Finally, Quarry LP acquired a new stake in shares of Hubbell during the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered shares of 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 research note on Thursday, October 10th. Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley boosted their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Price Performance

NYSE HUBB opened at $434.76 on Thursday. The stock has a 50-day simple moving average of $444.93 and a 200 day simple moving average of $414.36. Hubbell Incorporated has a twelve month low of $319.03 and a twelve month high of $481.35. The stock has a market capitalization of $23.33 billion, a PE ratio of 31.32, a P/E/G ratio of 1.69 and a beta of 0.93. 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 (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, beating the consensus estimate 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 in the prior year, the business earned $3.95 earnings per share. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $1.32 per share. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 38.04%.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by company insiders.

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.