Princeton Global Asset Management LLC Sells 100 Shares of Hubbell Incorporated (NYSE:HUBB)

Princeton Global Asset Management LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 7.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,243 shares of the industrial products company’s stock after selling 100 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Hubbell were worth $532,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. OLD National Bancorp IN grew its position in Hubbell by 3.8% during the 3rd 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 during the last quarter. CWM LLC boosted its stake in Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after purchasing an additional 28 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Hubbell by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 30 shares during the last quarter. Detalus Advisors LLC raised its holdings in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after buying an additional 30 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

HUBB stock opened at $425.70 on Friday. Hubbell Incorporated has a twelve month low of $274.42 and a twelve month high of $461.77. The company has a quick ratio of 1.13, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company has a market cap of $22.85 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90. The business’s fifty day moving average is $421.70 and its 200-day moving average is $395.78.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.95 earnings per share. Equities research analysts forecast that Hubbell Incorporated will post 16.46 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.24%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 35.16%.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Barclays boosted their price objective on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $434.38.

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.