Franklin Parlapiano Turner & Welch LLC Sells 485 Shares of Hubbell Incorporated (NYSE:HUBB)

Franklin Parlapiano Turner & Welch LLC lowered its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,791 shares of the industrial products company’s stock after selling 485 shares during the quarter. Hubbell accounts for 2.7% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 7th biggest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Hubbell were worth $10,619,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. OLD National Bancorp IN increased its position in shares of Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 22 shares during the last quarter. CWM LLC grew its position in shares of Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after acquiring an additional 28 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of Hubbell by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 30 shares during the last quarter. Detalus Advisors LLC raised its holdings in shares of Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 30 shares during the period. Finally, Savant Capital LLC lifted its stake in Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 31 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HUBB shares. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Barclays raised their price target on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and raised their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $428.13.

Hubbell Trading Down 0.8 %

Shares of NYSE:HUBB opened at $444.72 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. 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 $23.88 billion, a P/E ratio of 33.16, a P/E/G ratio of 1.67 and a beta of 0.90. The business’s 50 day simple moving average is $413.15 and its 200 day simple moving average is $394.18.

Hubbell (NYSE:HUBB) last released its 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 net margin of 13.14% and a return on equity of 28.98%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm earned $4.07 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Hubbell Incorporated will post 16.41 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.