Hubbell Incorporated (NYSE:HUBB) Shares Sold by West Oak Capital LLC

West Oak Capital LLC lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 93.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 500 shares of the industrial products company’s stock after selling 7,420 shares during the period. West Oak Capital LLC’s holdings in Hubbell were worth $209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HUBB. Groupama Asset Managment increased its holdings in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc raised its stake in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell in the 3rd quarter valued at approximately $41,000. Finally, Quarry LP purchased a new stake in Hubbell during the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HUBB shares. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the company 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 raised their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $471.50.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

HUBB stock traded down $14.13 during mid-day trading on Friday, reaching $420.64. 571,707 shares of the stock traded hands, compared to its average volume of 367,701. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $445.16 and a two-hundred day moving average of $414.64. Hubbell Incorporated has a 52 week low of $319.06 and a 52 week high of $481.35. The firm has a market capitalization of $22.58 billion, a PE ratio of 30.31, a P/E/G ratio of 1.69 and a beta of 0.93.

Hubbell (NYSE:HUBB) last posted its quarterly 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. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.95 earnings per share. As a group, equities analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

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.