Bleakley Financial Group LLC Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Bleakley Financial Group LLC cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,054 shares of the industrial products company’s stock after selling 100 shares during the period. Bleakley Financial Group LLC’s holdings in Hubbell were worth $676,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HUBB. First Manhattan Co. purchased a new position in Hubbell in the first quarter valued at $28,000. Atlas Capital Advisors LLC purchased a new stake in shares of Hubbell during the fourth quarter worth approximately $40,000. Coppell Advisory Solutions Corp. acquired a new stake in Hubbell in the fourth quarter valued at approximately $47,000. Coppell Advisory Solutions LLC acquired a new stake in Hubbell in the second quarter valued at approximately $50,000. Finally, Compass Wealth Management LLC purchased a new position in Hubbell in the fourth quarter worth approximately $82,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $401.88 on Friday. The company’s 50 day simple moving average is $387.95 and its 200-day simple moving average is $336.57. The firm has a market cap of $21.55 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.47 and a beta of 0.94. Hubbell Incorporated has a 12-month low of $221.03 and a 12-month high of $429.61. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $2.60 EPS. Hubbell’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts predict that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, February 28th. Hubbell’s dividend payout ratio is presently 34.73%.

Insiders Place Their Bets

In related news, 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 value of $5,268,375.75. Following the transaction, the chief financial officer now directly owns 37,848 shares in the company, valued at approximately $13,359,965.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Hubbell news, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the transaction, the chief financial officer now owns 37,848 shares in the company, valued at approximately $13,359,965.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $387,308.52. Following the completion of the sale, the vice president now directly owns 3,646 shares of the company’s stock, valued at $1,286,090.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho increased their price objective on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company boosted their target price on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and an average target price of $383.57.

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.