Avior Wealth Management LLC Has $774,000 Position in Hubbell Incorporated (NYSE:HUBB)

Avior Wealth Management LLC cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 21.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,805 shares of the industrial products company’s stock after selling 486 shares during the quarter. Avior Wealth Management LLC’s holdings in Hubbell were worth $774,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HUBB. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell during the 3rd quarter worth $41,000. Quarry LP acquired a new stake in shares of Hubbell during the 2nd quarter worth $49,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the 3rd quarter worth $58,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hubbell during the 2nd quarter worth $62,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Mizuho increased 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. Barclays increased their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Wells Fargo & Company increased their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is owned by insiders.

Hubbell Trading Down 1.5 %

HUBB opened at $445.58 on Thursday. The stock has a market cap of $23.91 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 1.63 and a beta of 0.90. The stock’s 50 day moving average price is $437.86 and its 200-day moving average price is $401.00. Hubbell Incorporated has a one year low of $293.91 and a one year high of $481.35. 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 issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.95 earnings per share. On average, equities analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

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.