West Oak Capital LLC Sells 365 Shares of Hubbell Incorporated (NYSE:HUBB)

West Oak Capital LLC cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 7,920 shares of the industrial products company’s stock after selling 365 shares during the period. Hubbell accounts for approximately 0.6% of West Oak Capital LLC’s portfolio, making the stock its 20th biggest holding. West Oak Capital LLC’s holdings in Hubbell were worth $3,392,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HUBB. Nordea Investment Management AB raised its position in shares of Hubbell by 4.1% in the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after purchasing an additional 6,275 shares during the period. IFG Advisory LLC acquired a new position in Hubbell during the 2nd quarter worth $475,000. Vaughan Nelson Investment Management L.P. lifted its position in Hubbell by 81.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock worth $22,565,000 after acquiring an additional 24,321 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in Hubbell by 304.6% during the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock valued at $4,685,000 after acquiring an additional 8,497 shares during the period. Finally, Sustainable Insight Capital Management LLC acquired a new stake in shares of Hubbell in the first quarter valued at about $1,868,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the 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 sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company upped their price target on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Barclays raised their price objective on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Morgan Stanley initiated coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and an average target price of $428.13.

Hubbell Stock Down 0.2 %

NYSE HUBB opened at $456.81 on Friday. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.77. The company has a market capitalization of $24.52 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 1.67 and a beta of 0.90. The stock’s 50 day moving average is $408.72 and its two-hundred day moving average is $393.66. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 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 analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $4.07 EPS. Hubbell’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is currently 36.39%.

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.