Albert D Mason Inc. Sells 737 Shares of Hubbell Incorporated (NYSE:HUBB)

Albert D Mason Inc. trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,879 shares of the industrial products company’s stock after selling 737 shares during the period. Hubbell comprises approximately 1.6% of Albert D Mason Inc.’s holdings, making the stock its 10th biggest holding. Albert D Mason Inc.’s holdings in Hubbell were worth $2,463,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HUBB. Envestnet Asset Management Inc. raised its stake in Hubbell by 7.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 69,492 shares of the industrial products company’s stock valued at $25,398,000 after purchasing an additional 5,037 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Hubbell by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock valued at $137,622,000 after buying an additional 22,951 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Hubbell by 2.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,578 shares of the industrial products company’s stock worth $4,232,000 after acquiring an additional 297 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Hubbell by 6.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,584 shares of the industrial products company’s stock valued at $3,130,000 after acquiring an additional 543 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Hubbell during the 2nd quarter worth $2,915,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $437.52 on Friday. The business’s 50-day simple moving average is $442.54 and its 200 day simple moving average is $417.02. The company has a market cap of $23.48 billion, a P/E ratio of 31.52, a PEG ratio of 1.45 and a beta of 0.93. 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 one year low of $322.27 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.95 earnings per share. 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. Shareholders of record on Friday, November 29th were given a $1.32 dividend. This is a boost 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%. The ex-dividend date of this dividend was Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several analyst reports. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company dropped their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $471.50.

Insider Activity

In other Hubbell 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 value 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.78% of the company’s stock.

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.