Freestone Capital Holdings LLC Sells 52 Shares of Hubbell Incorporated (NYSE:HUBB)

Freestone Capital Holdings LLC trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,562 shares of the industrial products company’s stock after selling 52 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Hubbell were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its holdings in Hubbell by 1.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,251 shares of the industrial products company’s stock worth $527,000 after acquiring an additional 42 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Hubbell by 0.3% in the 1st quarter. SeaCrest Wealth Management LLC now owns 14,595 shares of the industrial products company’s stock worth $3,551,000 after purchasing an additional 42 shares during the period. Citizens Financial Group Inc RI lifted its position in shares of Hubbell by 0.5% in the 4th quarter. Citizens Financial Group Inc RI now owns 10,339 shares of the industrial products company’s stock worth $2,426,000 after purchasing an additional 50 shares during the period. Glenview Trust co lifted its position in shares of Hubbell by 2.2% in the 1st quarter. Glenview Trust co now owns 2,383 shares of the industrial products company’s stock worth $580,000 after purchasing an additional 52 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Hubbell by 55.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 149 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 53 shares during the period. 85.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HUBB has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Hubbell in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Wolfe Research upgraded shares of Hubbell from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 11th. Wells Fargo & Company boosted their target price on shares of Hubbell from $287.00 to $318.00 in a research report on Monday, July 10th. Finally, Mizuho boosted their target price on shares of Hubbell from $300.00 to $370.00 in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hubbell presently has a consensus rating of “Hold” and an average price target of $265.17.

Hubbell Stock Performance

Shares of HUBB stock opened at $327.57 on Monday. The firm has a market capitalization of $17.57 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98. The firm has a fifty day simple moving average of $319.94 and a two-hundred day simple moving average of $285.65. The company has a current ratio of 2.06, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. Hubbell Incorporated has a 12 month low of $209.96 and a 12 month high of $340.06.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.44. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Hubbell had a net margin of 12.55% and a return on equity of 29.48%. Hubbell’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.81 EPS. Analysts forecast that Hubbell Incorporated will post 15.32 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 30th. This represents a $4.48 dividend on an annualized basis and a yield of 1.37%. Hubbell’s dividend payout ratio (DPR) is presently 37.24%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 2,293 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $314.30, for a total transaction of $720,689.90. Following the completion of the sale, the insider now owns 3,471 shares in the company, valued at approximately $1,090,935.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gerben Bakker sold 5,895 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $314.12, for a total value of $1,851,737.40. Following the completion of the sale, the chief executive officer now owns 51,783 shares in the company, valued at approximately $16,266,075.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 2,293 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $314.30, for a total transaction of $720,689.90. Following the completion of the sale, the insider now owns 3,471 shares of the company’s stock, valued at approximately $1,090,935.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,228 shares of company stock worth $3,839,856. 0.66% of the stock is owned by corporate insiders.

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.