Prime Capital Investment Advisors LLC Sells 23 Shares of Hubbell Incorporated (NYSE:HUBB)

Prime Capital Investment Advisors LLC cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.1% during the third quarter, Holdings Channel.com reports. The firm owned 532 shares of the industrial products company’s stock after selling 23 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Hubbell were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HUBB. Ashton Thomas Securities LLC acquired a new stake in Hubbell in the third quarter valued at approximately $41,000. Quarry LP acquired a new stake in Hubbell in the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell in the third quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC acquired a new stake in Hubbell in the second quarter valued at approximately $62,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 35 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Down 0.6 %

Hubbell stock opened at $437.61 on Monday. 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 $23.49 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. The business’s 50-day moving average price is $435.08 and its 200 day moving average price is $399.80. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

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

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. Hubbell’s payout ratio is presently 38.04%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HUBB. Sanford C. Bernstein assumed 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. Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays boosted their price target on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on 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 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Profile

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.