Hubbell Incorporated (NYSE:HUBB) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 21.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,805 shares of the industrial products company’s stock after selling 486 shares during the period. Avior Wealth Management LLC’s holdings in Hubbell were worth $774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HUBB. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Hubbell during the third quarter worth $2,750,000. Banque Cantonale Vaudoise increased its holdings in Hubbell by 375.3% in the third quarter. Banque Cantonale Vaudoise now owns 8,147 shares of the industrial products company’s stock valued at $3,490,000 after buying an additional 6,433 shares in the last quarter. LGT Capital Partners LTD. purchased a new position in Hubbell in the third quarter valued at $39,687,000. MidAtlantic Capital Management Inc. purchased a new position in Hubbell in the third quarter valued at $757,000. Finally, Swiss National Bank increased its holdings in Hubbell by 0.3% in the third quarter. Swiss National Bank now owns 159,300 shares of the industrial products company’s stock valued at $68,236,000 after buying an additional 500 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HUBB shares. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Barclays boosted their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Price Performance

Shares of HUBB opened at $445.58 on Thursday. Hubbell Incorporated has a twelve month low of $293.91 and a twelve month 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 firm’s 50 day moving average price is $437.86 and its 200 day moving average price is $401.00. The firm has a market cap of $23.91 billion, a PE ratio of 32.10, a PEG ratio of 1.63 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $3.95 earnings per share. As a group, 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 will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is 35.16%.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.78% of the stock is owned by company insiders.

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.