Hubbell Incorporated (NYSE:HUBB) Holdings Decreased by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,701 shares of the industrial products company’s stock after selling 35 shares during the period. Chesley Taft & Associates LLC’s holdings in Hubbell were worth $1,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OLD National Bancorp IN raised its position in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 22 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares during the last quarter. JGP Wealth Management LLC raised its holdings in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 26 shares in the last quarter. Avestar Capital LLC lifted its stake in Hubbell by 5.1% during the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 28 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after buying an additional 30 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $450.58 on Wednesday. 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 company has a market capitalization of $24.18 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 1.50 and a beta of 0.93. The business’s 50-day moving average is $441.97 and its 200-day moving average is $418.17. Hubbell Incorporated has a fifty-two week low of $326.13 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $3.95 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. Mizuho boosted their target price on 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 price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $471.50.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction 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 owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.