Pitcairn Co. Trims Position in Hubbell Incorporated (NYSE:HUBB)

Pitcairn Co. decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 17.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 931 shares of the industrial products company’s stock after selling 194 shares during the period. Pitcairn Co.’s holdings in Hubbell were worth $399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Hubbell during the 3rd quarter worth $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the third quarter worth about $41,000. Quarry LP purchased a new position in Hubbell during the second quarter worth about $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell during the third quarter worth about $58,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Hubbell in the second quarter valued at about $62,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade 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 this hyperlink. Insiders own 0.66% of the company’s stock.

Hubbell Trading Down 0.7 %

Shares of HUBB opened at $460.55 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1-year low of $293.91 and a 1-year high of $481.35. The stock has a market cap of $24.72 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. The firm has a 50 day simple moving average of $443.30 and a 200-day simple moving average of $403.08.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the business posted $3.95 earnings per share. Hubbell’s revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the stock from $493.00 to $473.00 in a research report on Tuesday. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Company 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.