Great Diamond Partners LLC Sells 116 Shares of Hubbell Incorporated (NYSE:HUBB)

Great Diamond Partners LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 7,809 shares of the industrial products company’s stock after selling 116 shares during the period. Great Diamond Partners LLC’s holdings in Hubbell were worth $3,271,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Salem Investment Counselors Inc. boosted its stake in shares of Hubbell by 26.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock valued at $3,830,000 after purchasing an additional 1,886 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after buying an additional 15,806 shares during the period. LGT Capital Partners LTD. bought a new stake in Hubbell during the 3rd quarter worth approximately $39,687,000. Principal Financial Group Inc. increased its position in Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after acquiring an additional 15,215 shares during the period. Finally, Impax Asset Management Group plc raised its stake 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 currently owned by institutional investors and hedge funds.

Hubbell Price Performance

Shares of HUBB opened at $422.94 on Friday. The firm has a market cap of $22.70 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93. Hubbell Incorporated has a 52-week low of $334.17 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The business’s 50 day moving average price is $439.29 and its two-hundred day moving average price is $421.26.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business 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 firm earned $3.95 earnings per share. Hubbell’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Hubbell Incorporated will post 16.48 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.25%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HUBB shares. JPMorgan Chase & Co. cut shares of 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 research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays lifted their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein began 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. Finally, 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 report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $471.50.

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.