Princeton Global Asset Management LLC Has $532,000 Stock Position in Hubbell Incorporated (NYSE:HUBB)

Princeton Global Asset Management LLC cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 7.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after purchasing an additional 286,134 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after buying an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock valued at $487,995,000 after buying an additional 46,813 shares in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after buying an additional 322,728 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 0.3 %

Shares of HUBB stock opened at $425.70 on Friday. The stock has a 50 day moving average of $421.70 and a 200-day moving average of $395.78. The firm has a market cap of $22.85 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 12 month low of $274.42 and a 12 month high of $461.77.

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

Hubbell Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on HUBB. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Barclays raised their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Finally, Mizuho increased their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.38.

Insiders Place Their Bets

In other 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 transaction of $164,043.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This 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.

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.