Jacobs & Co. CA Sells 1,020 Shares of Hubbell Incorporated (NYSE:HUBB)

Jacobs & Co. CA lowered its position in shares of Hubbell Incorporated (NYSE:HUBB) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,867 shares of the industrial products company’s stock after selling 1,020 shares during the period. Jacobs & Co. CA’s holdings in Hubbell were worth $9,159,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after acquiring an additional 1,252 shares during the period. LGT Capital Partners LTD. bought a new stake in Hubbell during the third quarter valued at approximately $39,687,000. Principal Financial Group Inc. grew its position in Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after buying an additional 15,215 shares during the period. Private Advisor Group LLC grew its position in Hubbell by 89.0% during the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock valued at $1,713,000 after buying an additional 2,207 shares during the period. Finally, Impax Asset Management Group plc grew its position in 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 buying an additional 279,654 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HUBB. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barclays boosted 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. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Hubbell presently has an average rating of “Hold” and an average target price of $471.50.

Hubbell Trading Down 3.2 %

HUBB stock traded down $13.81 during mid-day trading on Friday, reaching $420.96. 295,693 shares of the stock traded hands, compared to its average volume of 319,626. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a one year low of $319.06 and a one year high of $481.35. The stock has a market capitalization of $22.59 billion, a PE ratio of 30.33, a PEG ratio of 1.69 and a beta of 0.93. The business has a 50-day moving average price of $445.16 and a two-hundred day moving average price of $414.64.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.95 earnings per share. Equities research analysts expect that Hubbell Incorporated will post 16.47 EPS 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 issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.25%. Hubbell’s dividend payout ratio is presently 38.04%.

Hubbell Company 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.