J.P. Morgan Private Wealth Advisors LLC Lowers Stock Position in Hubbell Incorporated (NYSE:HUBB)

J.P. Morgan Private Wealth Advisors LLC lessened its stake in shares of Hubbell Incorporated (NYSE:HUBBFree Report) by 14.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,616 shares of the industrial products company’s stock after selling 913 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Hubbell were worth $1,760,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Coppell Advisory Solutions LLC purchased a new position in Hubbell during the second quarter worth about $50,000. Massmutual Trust Co. FSB ADV boosted its stake in Hubbell by 40.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 152 shares of the industrial products company’s stock worth $50,000 after buying an additional 44 shares during the period. First Manhattan Co. purchased a new position in Hubbell during the first quarter worth about $28,000. Atlas Capital Advisors LLC purchased a new position in Hubbell during the fourth quarter worth about $40,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in Hubbell during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 85.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on HUBB. TD Cowen assumed coverage on shares of Hubbell in a research note on Friday, December 8th. They set an “outperform” rating and a $338.00 target price for the company. JPMorgan Chase & Co. raised shares of Hubbell from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $333.00 to $335.00 in a research note on Friday, November 17th. Barclays raised their price objective on shares of Hubbell from $330.00 to $340.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Hubbell in a research note on Wednesday, November 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $353.00.

Get Our Latest Stock Report on Hubbell

Insiders Place Their Bets

In other Hubbell news, CFO William R. Sperry sold 14,925 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the sale, the chief financial officer now owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the sale, the vice president now owns 3,646 shares of the company’s stock, valued at $1,286,090.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the completion of the transaction, the chief financial officer now directly owns 37,848 shares in the company, valued at $13,359,965.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,891 shares of company stock valued at $11,262,870. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Up 1.3 %

Shares of Hubbell stock opened at $363.01 on Friday. Hubbell Incorporated has a 52-week low of $219.77 and a 52-week high of $363.36. The company has a 50 day moving average of $327.97 and a 200 day moving average of $312.40. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $19.46 billion, a P/E ratio of 25.84, a P/E/G ratio of 2.19 and a beta of 0.92.

Hubbell (NYSE:HUBBGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts forecast that Hubbell Incorporated will post 16.39 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 29th will be issued a dividend of $1.22 per share. The ex-dividend date is Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a yield of 1.34%. Hubbell’s payout ratio is currently 34.73%.

Hubbell Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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