FourThought Financial Partners LLC Trims Position in Hubbell Incorporated (NYSE:HUBB)

FourThought Financial Partners LLC lowered its position in Hubbell Incorporated (NYSE:HUBB) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 4,209 shares of the industrial products company’s stock after selling 189 shares during the period. FourThought Financial Partners LLC’s holdings in Hubbell were worth $1,384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Chevy Chase Trust Holdings LLC grew its holdings in shares of Hubbell by 265.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock worth $13,563,000 after purchasing an additional 29,959 shares during the period. Nordea Investment Management AB raised its stake in shares of Hubbell by 119.0% in the 4th quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock valued at $50,388,000 after acquiring an additional 83,581 shares during the period. PFG Advisors acquired a new position in shares of Hubbell in the 4th quarter worth approximately $1,108,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Hubbell by 117.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,456 shares of the industrial products company’s stock worth $6,729,000 after purchasing an additional 11,046 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. increased its holdings in Hubbell by 23.9% in the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,096 shares of the industrial products company’s stock valued at $5,623,000 after purchasing an additional 3,293 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In related news, VP Katherine Anne Lane sold 1,468 shares of Hubbell stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the transaction, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,747 shares of company stock valued at $1,693,364. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Up 1.9 %

Hubbell stock traded up $6.95 during trading on Friday, reaching $379.89. The stock had a trading volume of 433,697 shares, compared to its average volume of 487,446. The company has a quick ratio of 1.01, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The stock has a market cap of $20.37 billion, a PE ratio of 28.33, a P/E/G ratio of 1.47 and a beta of 0.96. The business has a 50 day moving average price of $398.06 and a 200 day moving average price of $345.57.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.61 EPS. On average, analysts predict that Hubbell Incorporated will post 16.35 EPS for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a $1.22 dividend. The ex-dividend date is Thursday, May 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.28%. Hubbell’s payout ratio is currently 36.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company lowered their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Barclays reduced their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Mizuho increased their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $386.57.

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.