EverSource Wealth Advisors LLC Sells 54 Shares of Hubbell Incorporated (NYSE:HUBB)

EverSource Wealth Advisors LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 283 shares of the industrial products company’s stock after selling 54 shares during the period. EverSource Wealth Advisors LLC’s holdings in Hubbell were worth $112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HUBB. Nvwm LLC purchased a new position in Hubbell during the first quarter valued at approximately $25,000. Riverview Trust Co bought a new position in Hubbell in the 1st quarter valued at $52,000. Northwest Investment Counselors LLC purchased a new position in shares of Hubbell during the 1st quarter valued at $56,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell in the second quarter worth $62,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after buying an additional 35 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Up 0.9 %

Shares of NYSE HUBB opened at $427.95 on Friday. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $433.03. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $385.83 and a two-hundred day simple moving average of $389.69. The firm has a market capitalization of $22.97 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $4.07 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.14%. Hubbell’s payout ratio is 36.39%.

Analyst Ratings Changes

A number of brokerages have weighed in on HUBB. JPMorgan Chase & Co. upped their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley assumed coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Barclays lowered their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $404.88.

Insiders Place Their Bets

In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

About Hubbell

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.