SeaCrest Wealth Management LLC Sells 436 Shares of Hubbell Incorporated (NYSE:HUBB)

SeaCrest Wealth Management LLC reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 16.0% in the 3rd quarter, Holdings Channel reports. The firm owned 2,295 shares of the industrial products company’s stock after selling 436 shares during the period. SeaCrest Wealth Management LLC’s holdings in Hubbell were worth $983,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Nvwm LLC bought a new position in shares of Hubbell in the first quarter worth about $25,000. Quarry LP bought a new position in Hubbell in the 2nd quarter valued at approximately $49,000. Riverview Trust Co acquired a new stake in Hubbell in the first quarter valued at approximately $52,000. Northwest Investment Counselors LLC bought a new stake in shares of Hubbell during the first quarter worth $56,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Hubbell during the second quarter worth $62,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of recent research reports. Morgan Stanley assumed coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Wells Fargo & Company upped their price target on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Barclays lifted their price target on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Stephens restated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised 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 report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $423.13.

Hubbell Price Performance

HUBB stock opened at $453.96 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The firm has a market cap of $24.37 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 1.67 and a beta of 0.90. The company’s fifty day simple moving average is $405.45 and its 200 day simple moving average is $392.93. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $461.77.

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

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.07%. 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, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at $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.

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.