Atria Wealth Solutions Inc. Cuts Position in Hubbell Inc (NYSE:HUBB)

Atria Wealth Solutions Inc. lessened its stake in Hubbell Inc (NYSE:HUBB) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,784 shares of the industrial products company’s stock after selling 54 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Hubbell were worth $590,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HUBB. Tsfg LLC purchased a new position in shares of Hubbell in the 1st quarter valued at about $30,000. Johnson Financial Group Inc. increased its holdings in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Hubbell in the 1st quarter valued at about $49,000. CX Institutional purchased a new position in shares of Hubbell in the 1st quarter valued at about $49,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Hubbell in the 1st quarter valued at about $66,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Hubbell stock opened at $444.12 on Thursday. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The stock has a market capitalization of $23.60 billion, a P/E ratio of 28.84, a P/E/G ratio of 2.42 and a beta of 0.99. The firm’s 50-day moving average is $414.49 and its two-hundred day moving average is $382.53. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Equities analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th. Hubbell’s payout ratio is 34.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HUBB. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wells Fargo & Company raised their target price on shares of Hubbell from $420.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Barclays raised their target price on shares of Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $462.29.

Insider Activity

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the transaction, the director owned 1,727 shares of the company’s stock, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

About Hubbell

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.