Hubbell Incorporated (NYSE:HUBB) Stake Cut by DB Fitzpatrick & Co Inc

DB Fitzpatrick & Co Inc decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,813 shares of the industrial products company’s stock after selling 127 shares during the period. Hubbell accounts for 1.9% of DB Fitzpatrick & Co Inc’s investment portfolio, making the stock its 7th biggest position. DB Fitzpatrick & Co Inc’s holdings in Hubbell were worth $2,016,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in HUBB. Groupama Asset Managment raised its position in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Hubbell in the 3rd quarter worth approximately $33,000. Versant Capital Management Inc raised its holdings in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell during the 3rd quarter worth $41,000. Finally, Quarry LP acquired a new stake in shares of Hubbell during the second quarter worth $49,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

HUBB opened at $437.52 on Friday. Hubbell Incorporated has a 52-week low of $322.27 and a 52-week high of $481.35. The company has a 50 day moving average of $442.54 and a two-hundred day moving average of $417.02. The company has a market cap of $23.48 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.45 and a beta of 0.93. 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 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 firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $3.95 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced 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 is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Mizuho upped their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $471.50.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s 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 completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $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 accessible through this link. 0.78% 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.