West Oak Capital LLC Decreases Stake in Hubbell Incorporated (NYSE:HUBB)

West Oak Capital LLC decreased its position in Hubbell Incorporated (NYSE:HUBB) by 93.7% in the 4th quarter, according to its most recent 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 quarter. West Oak Capital LLC’s holdings in Hubbell were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc increased its stake in shares of Hubbell by 64.6% during the fourth 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 bought a new stake in Hubbell in the third quarter worth about $41,000. Quarry LP acquired a new stake in shares of Hubbell during the 2nd quarter valued at $49,000. Finally, Northwest Investment Counselors LLC purchased a new position in Hubbell in the 3rd quarter worth about $58,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB traded down $14.13 during trading on Friday, reaching $420.64. The stock had a trading volume of 571,707 shares, compared to its average volume of 367,701. The business has a 50-day moving average of $445.16 and a 200-day moving average of $414.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a one year low of $319.06 and a one year high of $481.35. The stock has a market cap of $22.58 billion, a PE ratio of 30.31, a PEG ratio of 1.69 and a beta of 0.93.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business posted $3.95 earnings per share. Hubbell’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $1.32 per share. The ex-dividend date was Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.26%. Hubbell’s payout ratio is currently 38.04%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the 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 transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday. Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Finally, Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $471.50.

Hubbell 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.