Farther Finance Advisors LLC Sells 39 Shares of Hubbell Incorporated (NYSE:HUBB)

Farther Finance Advisors LLC lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 29.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94 shares of the industrial products company’s stock after selling 39 shares during the quarter. Farther Finance Advisors LLC’s holdings in Hubbell were worth $40,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Quarry LP bought a new position in shares of Hubbell in the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell during the 3rd quarter worth approximately $58,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hubbell during the 2nd quarter worth approximately $62,000. Massmutual Trust Co. FSB ADV boosted 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 last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after buying an additional 72 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on HUBB shares. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Performance

HUBB opened at $440.07 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a market capitalization of $23.62 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. The business has a fifty day simple moving average of $432.35 and a 200 day simple moving average of $399.10. Hubbell Incorporated has a 1 year low of $287.06 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $3.95 earnings per share. Hubbell’s revenue was up 4.9% compared to the same quarter last year. Research analysts expect that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.20%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 38.04%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.