Hubbell Incorporated (NYSE:HUBB) Shares Sold by Compass Wealth Management LLC

Compass Wealth Management LLC reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 13.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,755 shares of the industrial products company’s stock after selling 280 shares during the quarter. Compass Wealth Management LLC’s holdings in Hubbell were worth $752,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after buying an additional 286,134 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Hubbell by 3.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after acquiring an additional 46,813 shares during the last quarter. Impax Asset Management Group plc grew its stake in Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after acquiring an additional 322,728 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Hubbell by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock valued at $137,622,000 after acquiring an additional 22,951 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 0.8 %

NYSE HUBB opened at $457.51 on Friday. The firm has a market capitalization of $24.56 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. Hubbell Incorporated has a one year low of $248.37 and a one year high of $461.77. The company’s 50 day moving average price is $407.12 and its 200 day moving average price is $393.38.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $4.07 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Insider Activity

In related news, 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated 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 transaction, the director now directly 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 disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Barclays lifted 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. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Morgan Stanley initiated coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $428.13.

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.