FourThought Financial Partners LLC Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

FourThought Financial Partners LLC reduced its position in Hubbell Incorporated (NYSE:HUBB) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,209 shares of the industrial products company’s stock after selling 189 shares during the quarter. FourThought Financial Partners LLC’s holdings in Hubbell were worth $1,384,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its position in Hubbell by 32.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 886 shares of the industrial products company’s stock worth $291,000 after buying an additional 218 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. increased its position in shares of Hubbell by 2.8% in the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 15,832 shares of the industrial products company’s stock worth $5,208,000 after purchasing an additional 426 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in Hubbell in the fourth quarter valued at approximately $260,000. Great Valley Advisor Group Inc. bought a new stake in Hubbell during the fourth quarter valued at approximately $1,258,000. Finally, New York Life Investment Management LLC purchased a new position in Hubbell in the 4th quarter worth approximately $2,530,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 1.9 %

Shares of HUBB traded up $6.95 during mid-day trading on Friday, reaching $379.89. The company had a trading volume of 433,697 shares, compared to its average volume of 487,446. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.66. The firm has a 50-day moving average price of $398.06 and a 200 day moving average price of $345.57. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. Hubbell’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $3.61 EPS. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.35 EPS for the current year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Activity

In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the sale, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the transaction, the vice president now directly owns 9,355 shares in the company, valued at $3,297,731.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The disclosure for this sale can be found here. Insiders have sold a total of 4,747 shares of company stock valued at $1,693,364 in the last 90 days. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on HUBB shares. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays reduced their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday. Mizuho raised their price objective on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $386.57.

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.