Prime Capital Investment Advisors LLC Sells 23 Shares of Hubbell Incorporated (NYSE:HUBB)

Prime Capital Investment Advisors LLC decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 532 shares of the industrial products company’s stock after selling 23 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Hubbell were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Hubbell in the 3rd quarter worth $41,000. Quarry LP bought a new position in Hubbell in the 2nd quarter worth $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the 3rd quarter worth $58,000. GAMMA Investing LLC lifted its stake in Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell in the 2nd quarter worth $62,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Hubbell stock opened at $437.61 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1-year low of $287.06 and a 1-year high of $481.35. The firm has a market capitalization of $23.49 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. The company’s 50-day moving average is $435.08 and its 200 day moving average is $399.80.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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 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 company posted $3.95 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

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

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the 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 transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on HUBB. Morgan Stanley boosted their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Mizuho upped their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

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.