CHB Investment Group LLC Sells 114 Shares of Hubbell Incorporated (NYSE:HUBB)

CHB Investment Group LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,906 shares of the industrial products company’s stock after selling 114 shares during the quarter. Hubbell comprises approximately 1.6% of CHB Investment Group LLC’s portfolio, making the stock its 21st biggest position. CHB Investment Group LLC’s holdings in Hubbell were worth $2,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Mizuho Securities USA LLC boosted its holdings in Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares during the last quarter. State Street Corp increased its position in Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after acquiring an additional 22,507 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after acquiring an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after purchasing an additional 82,258 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Hubbell by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock valued at $535,681,000 after purchasing an additional 8,278 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Mizuho raised their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays increased their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $471.50.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Down 0.1 %

Shares of NYSE HUBB opened at $419.79 on Tuesday. The company has a market cap of $22.53 billion, a P/E ratio of 30.24, a PEG ratio of 1.69 and a beta of 0.93. The firm has a 50-day simple moving average of $444.95 and a two-hundred day simple moving average of $415.84. Hubbell Incorporated has a 1 year low of $319.06 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $3.95 EPS. Hubbell’s revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.26%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio is currently 38.04%.

Hubbell 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.