Pathstone Holdings LLC Lowers Position in Hubbell Incorporated (NYSE:HUBB)

Pathstone Holdings LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,697 shares of the industrial products company’s stock after selling 100 shares during the period. Pathstone Holdings LLC’s holdings in Hubbell were worth $3,297,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HUBB. Mizuho Securities USA LLC lifted its position in shares of Hubbell by 192,421.1% during 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 purchasing an additional 7,975,855 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after buying an additional 291,850 shares in the last quarter. International Assets Investment Management LLC boosted its stake 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 buying an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Hubbell by 3.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock valued at $487,995,000 after acquiring an additional 46,813 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of Hubbell by 30.3% during the third 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. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on HUBB shares. Sanford C. Bernstein began coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Mizuho lifted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Stock Up 0.9 %

Hubbell stock opened at $460.81 on Monday. The firm has a 50 day simple moving average of $441.22 and a 200 day simple moving average of $402.28. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1-year low of $293.91 and a 1-year high of $481.35. The firm has a market capitalization of $24.73 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 1.70 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the business earned $3.95 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.15%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 35.16%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

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.