Ceredex Value Advisors LLC Sells 21,606 Shares of Hubbell Incorporated (NYSE:HUBB)

Ceredex Value Advisors LLC cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 10.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,114 shares of the industrial products company’s stock after selling 21,606 shares during the quarter. Hubbell comprises 1.5% of Ceredex Value Advisors LLC’s portfolio, making the stock its 17th largest position. Ceredex Value Advisors LLC’s holdings in Hubbell were worth $78,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Nvwm LLC bought a new position in Hubbell in the first quarter valued at approximately $25,000. Quarry LP bought a new position in Hubbell in the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC bought a new position in Hubbell in the third quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC bought a new position 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 during the last quarter. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The shares were 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 directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday. Mizuho increased their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays increased their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average price target of $434.38.

Hubbell Trading Down 0.3 %

Shares of NYSE:HUBB opened at $425.70 on Friday. Hubbell Incorporated has a 12 month low of $274.42 and a 12 month high of $461.77. The company has a quick ratio of 1.13, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $421.70 and its 200 day simple moving average is $395.78. The firm has a market cap of $22.85 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.60 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business posted $3.95 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm 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 $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is presently 38.04%.

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.