Bleakley Financial Group LLC Has $633,000 Holdings in Hubbell Incorporated (NYSE:HUBB)

Bleakley Financial Group LLC cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 28.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,511 shares of the industrial products company’s stock after selling 596 shares during the period. Bleakley Financial Group LLC’s holdings in Hubbell were worth $633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its holdings in shares of Hubbell by 8.2% during the 2nd quarter. Cetera Investment Advisers now owns 6,484 shares of the industrial products company’s stock valued at $2,370,000 after purchasing an additional 493 shares in the last quarter. GAMMA Investing LLC lifted its stake in Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after buying an additional 72 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Hubbell by 54.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,578 shares of the industrial products company’s stock valued at $676,000 after buying an additional 556 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Hubbell during the third quarter worth $341,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Hubbell by 66.7% during the third quarter. Exchange Traded Concepts LLC now owns 6,891 shares of the industrial products company’s stock worth $2,952,000 after acquiring an additional 2,757 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Up 1.5 %

Shares of Hubbell stock opened at $401.04 on Monday. Hubbell Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35. The stock has a market cap of $21.52 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.05, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $433.34 and its 200-day moving average is $422.45.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $3.69 earnings per share. Equities research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.32%. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HUBB shares. Mizuho upped 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. Morgan Stanley upped their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Barclays lifted their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company 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 issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $471.50.

About Hubbell

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.