Chesley Taft & Associates LLC Reduces Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Chesley Taft & Associates LLC lessened its position in shares of Hubbell Incorporated (NYSE:HUBBFree Report) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,736 shares of the industrial products company’s stock after selling 215 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Hubbell were worth $1,600,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. CWM LLC grew its stake in Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 28 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Hubbell by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after buying an additional 30 shares during the period. Detalus Advisors LLC lifted its holdings in shares of Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after buying an additional 30 shares during the period. Savant Capital LLC lifted its holdings in shares of Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after buying an additional 31 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Hubbell by 23.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $441.11 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The business has a 50 day simple moving average of $395.66 and a 200-day simple moving average of $391.16. The firm has a market capitalization of $23.68 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $442.36.

Hubbell (NYSE:HUBBGet Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $4.07 earnings per share. Equities research analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.11%. Hubbell’s payout ratio is 36.39%.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on HUBB. Wells Fargo & Company boosted their price objective on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a report on Monday. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley initiated coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target for the company. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and upped their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Barclays upped their price target on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $414.50.

View Our Latest Analysis on HUBB

Hubbell 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.

Further Reading

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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