Jade Capital Advisors LLC Decreases Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Jade Capital Advisors LLC trimmed its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 53.1% in the 3rd quarter, Holdings Channel reports. The firm owned 7,500 shares of the industrial products company’s stock after selling 8,500 shares during the period. Hubbell accounts for approximately 2.0% of Jade Capital Advisors LLC’s holdings, making the stock its 13th biggest position. Jade Capital Advisors LLC’s holdings in Hubbell were worth $3,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in HUBB. Nvwm LLC purchased a new position in shares of Hubbell during the first quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of Hubbell in the second quarter worth $49,000. Riverview Trust Co purchased a new stake in shares of Hubbell in the first quarter worth $52,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell in the first quarter worth $56,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hubbell in the second quarter worth $62,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HUBB. 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 report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and increased their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley started coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $428.13.

Hubbell Price Performance

Hubbell stock opened at $456.81 on Tuesday. The firm has a 50-day moving average price of $410.39 and a 200-day moving average price of $393.60. The firm has a market capitalization of $24.52 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $461.77.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.07 EPS. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Buying and Selling at Hubbell

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

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.