Crossmark Global Holdings Inc. Sells 411 Shares of Hubbell Incorporated (NYSE:HUBB)

Crossmark Global Holdings Inc. decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,401 shares of the industrial products company’s stock after selling 411 shares during the period. Crossmark Global Holdings Inc.’s holdings in Hubbell were worth $1,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Hubbell during the second quarter worth approximately $49,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the third quarter worth approximately $58,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hubbell during the second quarter worth approximately $62,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Hubbell by 23.5% during 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. Finally, GAMMA Investing LLC increased its holdings in shares of Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after buying an additional 72 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their price target for the company from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company raised their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Mizuho raised their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade 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. Insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of HUBB stock opened at $440.07 on Friday. Hubbell Incorporated has a 52-week low of $287.06 and a 52-week high of $481.35. The stock has a market cap of $23.62 billion, a PE ratio of 31.71, a PEG ratio of 1.68 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm’s 50 day moving average price is $432.35 and its two-hundred day moving average price is $399.10.

Hubbell (NYSE:HUBB) last announced its quarterly 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 company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $3.95 earnings per share. As a group, analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

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.