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

DB Fitzpatrick & Co Inc reduced its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 2.6% in the 4th quarter, HoldingsChannel.com reports. 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 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 Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Mizuho Securities USA LLC increased its holdings in Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after buying an additional 7,975,855 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Hubbell by 42,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after acquiring an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after acquiring an additional 168,380 shares in the last quarter. Finally, LGT Capital Partners LTD. bought a new position in Hubbell during the third quarter worth $39,687,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HUBB shares. Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company decreased their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Mizuho increased their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Stock Up 0.8 %

HUBB opened at $437.52 on Friday. The stock’s 50 day moving average price is $442.54 and its 200 day moving average price is $417.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The stock 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. Hubbell Incorporated has a 12 month low of $322.27 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 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 return on equity of 28.81% and a net margin of 13.33%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $3.95 earnings per share. As a group, research analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio is currently 38.04%.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value 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. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

About Hubbell

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.