Consolidated Planning Corp Has $958,000 Position in Hubbell Incorporated (NYSE:HUBB)

Consolidated Planning Corp trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 38.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,237 shares of the industrial products company’s stock after selling 1,388 shares during the quarter. Consolidated Planning Corp’s holdings in Hubbell were worth $958,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HUBB. IFG Advisory LLC bought a new position in Hubbell during the 2nd quarter worth $475,000. Sustainable Insight Capital Management LLC bought a new stake in Hubbell in the first quarter valued at approximately $1,868,000. Acadian Asset Management LLC boosted its holdings in Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after acquiring an additional 1,252 shares during the last quarter. Great Valley Advisor Group Inc. increased its position in Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 1,359 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Hubbell by 2.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock worth $40,731,000 after purchasing an additional 2,822 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HUBB shares. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and upped their price target for the company from $431.00 to $441.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley upped their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Mizuho lifted their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Trading Down 1.1 %

Shares of Hubbell stock opened at $466.98 on Friday. The stock has a market capitalization of $25.07 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $278.62 and a 52 week high of $481.35. The stock has a 50 day moving average price of $426.63 and a two-hundred day moving average price of $397.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business posted $3.95 EPS. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm 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 $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.13%. Hubbell’s dividend payout ratio (DPR) is presently 35.16%.

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.