Hamilton Point Investment Advisors LLC Cuts Position in Hubbell Incorporated (NYSE:HUBB)

Hamilton Point Investment Advisors LLC decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 19,983 shares of the industrial products company’s stock after selling 234 shares during the period. Hubbell makes up approximately 1.5% of Hamilton Point Investment Advisors LLC’s holdings, making the stock its 20th biggest holding. Hamilton Point Investment Advisors LLC’s holdings in Hubbell were worth $8,560,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HUBB. Prospera Private Wealth LLC purchased a new position in shares of Hubbell during the 3rd quarter valued at about $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell during the third quarter worth approximately $41,000. Quarry LP bought a new stake in shares of Hubbell in the 2nd quarter worth approximately $49,000. Northwest Investment Counselors LLC bought a new stake in shares of Hubbell in the 3rd quarter worth approximately $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hubbell in the 2nd quarter valued at $62,000. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on 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 owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Sanford C. Bernstein began coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Mizuho increased their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Price Performance

HUBB opened at $460.81 on Friday. The firm has a market cap of $24.73 billion, a PE ratio of 33.20, a P/E/G ratio of 1.70 and a beta of 0.90. The stock has a 50-day moving average price of $440.09 and a 200-day moving average price of $401.71. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

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 firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm posted $3.95 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.15%. Hubbell’s payout ratio is currently 35.16%.

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.