Allworth Financial LP Sells 99 Shares of Hubbell Incorporated (NYSE:HUBB)

Allworth Financial LP cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 29.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 240 shares of the industrial products company’s stock after selling 99 shares during the period. Allworth Financial LP’s holdings in Hubbell were worth $103,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HUBB. International Assets Investment Management LLC grew its holdings in Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc grew its stake in Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after acquiring an additional 322,728 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after acquiring an additional 286,134 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its stake in Hubbell by 60.9% in the 2nd quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock worth $74,821,000 after acquiring an additional 77,500 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Barclays upped their price target on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $434.38.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Trading Down 1.1 %

NYSE:HUBB opened at $426.76 on Friday. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $461.77. The firm has a 50 day moving average of $419.94 and a 200 day moving average of $395.41. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 1.66 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $3.95 earnings per share. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Increases Dividend

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 given a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.24%. Hubbell’s dividend payout ratio is presently 36.39%.

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.