Agate Pass Investment Management LLC Sells 152 Shares of Hubbell Incorporated (NYSE:HUBB)

Agate Pass Investment Management LLC cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,477 shares of the industrial products company’s stock after selling 152 shares during the period. Hubbell accounts for 1.6% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 21st biggest position. Agate Pass Investment Management LLC’s holdings in Hubbell were worth $3,203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of HUBB. Nvwm LLC purchased a new stake in shares of Hubbell during the 1st quarter valued at $25,000. Quarry LP purchased a new stake in shares of Hubbell during the 2nd quarter valued at $49,000. Riverview Trust Co purchased a new stake in shares of Hubbell during the 1st quarter valued at $52,000. Northwest Investment Counselors LLC bought a new position in shares of Hubbell during the 1st quarter valued at $56,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell during the 2nd quarter valued at $62,000. 88.16% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 $608,781.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays increased their target price on shares of Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Stephens reaffirmed an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley assumed coverage on shares of Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered shares of 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 report on Thursday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average target price of $423.13.

Hubbell Price Performance

Shares of Hubbell stock opened at $443.50 on Friday. The firm has a market cap of $23.81 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $449.80. 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 company’s fifty day simple moving average is $398.01 and its two-hundred day simple moving average is $391.93.

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

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s payout ratio is 36.07%.

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.