Hubbell Incorporated (NYSE:HUBB) Stock Holdings Lowered by First Hawaiian Bank

First Hawaiian Bank lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,784 shares of the industrial products company’s stock after selling 320 shares during the period. First Hawaiian Bank’s holdings in Hubbell were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in shares of Hubbell in the third quarter valued at approximately $33,000. Versant Capital Management Inc boosted its stake in Hubbell by 64.6% during the 4th 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 shares of Hubbell during the 3rd quarter valued at $41,000. Quarry LP acquired a new stake in shares of Hubbell in the second quarter valued at $49,000. Finally, Northwest Investment Counselors LLC bought a new position in Hubbell during the third quarter valued at about $58,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 0.2 %

NYSE:HUBB opened at $434.76 on Friday. Hubbell Incorporated has a 1-year low of $319.03 and a 1-year high of $481.35. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.69 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average price is $445.00 and its 200 day moving average price is $414.50.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm earned $3.95 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Mizuho upped 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. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Barclays lifted their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $471.50.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.