Ritholtz Wealth Management Sells 505 Shares of Hubbell Incorporated (NYSE:HUBB)

Ritholtz Wealth Management cut its position in Hubbell Incorporated (NYSE:HUBB) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,254 shares of the industrial products company’s stock after selling 505 shares during the quarter. Ritholtz Wealth Management’s holdings in Hubbell were worth $2,386,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in Hubbell by 119.0% during the fourth quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock valued at $50,388,000 after acquiring an additional 83,581 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its position in shares of Hubbell by 23.9% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,096 shares of the industrial products company’s stock valued at $5,623,000 after acquiring an additional 3,293 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Hubbell by 13.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 10,136 shares of the industrial products company’s stock valued at $3,177,000 after acquiring an additional 1,218 shares during the last quarter. Amplius Wealth Advisors LLC purchased a new stake in shares of Hubbell during the fourth quarter worth about $1,019,000. Finally, Assenagon Asset Management S.A. increased its holdings in Hubbell by 137.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 88,657 shares of the industrial products company’s stock valued at $29,162,000 after purchasing an additional 51,258 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Mizuho increased their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. TD Cowen started coverage on shares of Hubbell in a research report on Friday, December 8th. They set an “outperform” rating and a $338.00 price target on the stock. Wells Fargo & Company lifted their price objective on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $375.00.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the transaction, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the sale, the insider now owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Up 0.3 %

HUBB traded up $1.19 during trading on Thursday, hitting $415.05. 290,930 shares of the company’s stock traded hands, compared to its average volume of 416,221. The stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.52 and a beta of 0.93. The company’s 50 day simple moving average is $369.24 and its two-hundred day simple moving average is $328.49. Hubbell Incorporated has a 12-month low of $219.77 and a 12-month high of $419.64. 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 earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. Hubbell’s revenue was up 10.3% on a year-over-year basis. Analysts predict that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Wednesday, February 28th. Hubbell’s payout ratio is currently 34.73%.

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.