Farther Finance Advisors LLC Sells 39 Shares of Hubbell Incorporated (NYSE:HUBB)

Farther Finance Advisors LLC lessened its holdings in Hubbell Incorporated (NYSE:HUBB) by 29.3% during the third quarter, HoldingsChannel.com reports. The fund owned 94 shares of the industrial products company’s stock after selling 39 shares during the period. Farther Finance Advisors LLC’s holdings in Hubbell were worth $40,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HUBB. OLD National Bancorp IN boosted its stake in shares of Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 22 shares in the last quarter. CWM LLC grew its stake in shares of Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after buying an additional 28 shares during the last quarter. Detalus Advisors LLC increased its holdings in shares of Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after buying an additional 30 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after buying an additional 30 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the 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 represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of research reports. Barclays boosted their price objective on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective 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 boosted their target price for the stock from $431.00 to $441.00 in a report on Friday, September 6th. 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 research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Stock Down 3.0 %

Hubbell stock opened at $440.07 on Friday. The firm has a 50 day moving average price of $432.35 and a two-hundred day moving average price of $399.10. 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 Incorporated has a 52-week low of $287.06 and a 52-week high of $481.35. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.68 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its 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 business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.95 earnings per share. Equities analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm 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 positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.20%. Hubbell’s dividend payout ratio is presently 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.