Hubbell Incorporated (NYSE:HUBB) Shares Sold by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 677 shares of the industrial products company’s stock after selling 27 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Hubbell were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nvwm LLC purchased a new position in shares of Hubbell in the 1st quarter valued at about $25,000. Quarry LP purchased a new stake in Hubbell during the second quarter worth approximately $49,000. Riverview Trust Co purchased a new stake in Hubbell during the first quarter worth approximately $52,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the first quarter worth approximately $56,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell during the second quarter worth approximately $62,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Down 0.4 %

HUBB opened at $425.90 on Friday. The business’s fifty day moving average is $391.76 and its two-hundred day moving average is $390.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a one year low of $248.37 and a one year high of $433.03.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business earned $4.07 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid 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 1.15%. Hubbell’s payout ratio is currently 36.39%.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction 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 $24,861,791.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on HUBB shares. Barclays lifted their price target on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company lifted their price target on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Morgan Stanley began coverage on Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target on the stock. Finally, Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $408.88.

Hubbell 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.