TT International Asset Management LTD Trims Stock Position in Hubbell Incorporated (NYSE:HUBB)

TT International Asset Management LTD cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 39.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,685 shares of the industrial products company’s stock after selling 1,095 shares during the quarter. TT International Asset Management LTD’s holdings in Hubbell were worth $721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HUBB. Cetera Advisors LLC purchased a new position in Hubbell during the first quarter worth about $582,000. CWM LLC lifted its position in Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after buying an additional 28 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Hubbell by 257.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,344 shares of the industrial products company’s stock worth $4,146,000 after buying an additional 8,168 shares during the period. Great Valley Advisor Group Inc. raised its holdings in shares of Hubbell by 24.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after purchasing an additional 1,359 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in shares of Hubbell by 4.2% in the 2nd quarter. V Square Quantitative Management LLC now owns 892 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 36 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HUBB shares. Wells Fargo & Company raised their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Barclays raised their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and a consensus price target of $472.13.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $448.60 on Wednesday. The company has a market cap of $24.08 billion, a P/E ratio of 32.32, a PEG ratio of 1.72 and a beta of 0.91. 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 $306.92 and a one year high of $481.35. The business’s 50-day simple moving average is $450.21 and its 200 day simple moving average is $407.19.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $3.95 EPS. The company’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is 38.04%.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is owned by insiders.

Hubbell 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.