Agate Pass Investment Management LLC Trims Stock Position in Hubbell Incorporated (NYSE:HUBB)

Agate Pass Investment Management LLC trimmed its stake in Hubbell Incorporated (NYSE:HUBB) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,629 shares of the industrial products company’s stock after selling 438 shares during the period. Hubbell makes up 1.5% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. Agate Pass Investment Management LLC’s holdings in Hubbell were worth $2,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nvwm LLC purchased a new position in Hubbell during the 1st quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. Lindbrook Capital LLC increased its position in Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares during the period. Principal Securities Inc. acquired a new position in Hubbell during the fourth quarter worth $40,000. Finally, Riverview Trust Co purchased a new position in shares of Hubbell in the 1st quarter valued at about $52,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent research reports. Barclays decreased their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $402.57.

Hubbell Stock Up 0.5 %

NYSE:HUBB traded up $1.81 during trading hours on Tuesday, hitting $375.08. The stock had a trading volume of 376,430 shares, compared to its average volume of 466,809. The company has a market cap of $20.14 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The business has a 50 day simple moving average of $373.51 and a two-hundred day simple moving average of $382.75. The company has a current ratio of 1.81, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. Hubbell’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.07 EPS. Analysts predict that Hubbell Incorporated will post 16.38 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $1.22 dividend. The ex-dividend date is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.30%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,134 shares of company stock valued at $6,035,398. Insiders own 0.66% of the company’s stock.

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.