Hubbell Incorporated (NYSE:HUBB) Shares Sold by Passumpsic Savings Bank

Passumpsic Savings Bank reduced its position in Hubbell Incorporated (NYSE:HUBB) by 0.5% in the 3rd quarter, Holdings Channel reports. The firm owned 7,749 shares of the industrial products company’s stock after selling 39 shares during the quarter. Hubbell accounts for about 2.2% of Passumpsic Savings Bank’s portfolio, making the stock its 14th largest position. Passumpsic Savings Bank’s holdings in Hubbell were worth $3,319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in shares of Hubbell during the 3rd quarter worth approximately $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the 3rd quarter valued at about $41,000. Quarry LP purchased a new stake in shares of Hubbell in the second quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell during the third quarter worth about $58,000. Finally, GAMMA Investing LLC raised its stake in Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $448.60 on Wednesday. The business’s fifty day moving average price is $450.21 and its 200 day moving average price is $407.19. Hubbell Incorporated has a 12-month low of $306.92 and a 12-month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $24.08 billion, a PE ratio of 32.32, a P/E/G ratio of 1.72 and a beta of 0.91.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm earned $3.95 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current 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 given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays increased their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Mizuho increased their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley boosted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $472.13.

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.