Bartlett & CO. Wealth Management LLC Has $1.04 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Bartlett & CO. Wealth Management LLC lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,419 shares of the industrial products company’s stock after selling 99 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Hubbell were worth $1,036,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new stake in shares of Hubbell in the fourth quarter valued at about $358,000. Czech National Bank increased its position in Hubbell by 0.4% in the 1st quarter. Czech National Bank now owns 9,435 shares of the industrial products company’s stock worth $3,916,000 after buying an additional 42 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Hubbell by 118.0% during the first quarter. Banque Cantonale Vaudoise now owns 1,552 shares of the industrial products company’s stock worth $643,000 after buying an additional 840 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Hubbell by 47.9% in the first quarter. Park Avenue Securities LLC now owns 1,211 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 392 shares during the period. Finally, Douglas Lane & Associates LLC grew its stake in shares of Hubbell by 13.7% in the first quarter. Douglas Lane & Associates LLC now owns 1,040 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB opened at $456.81 on Friday. The company has a 50 day moving average of $408.72 and a 200-day moving average of $393.51. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.77. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company earned $4.07 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.07%. Hubbell’s dividend payout ratio is currently 36.39%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. 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 research note on Monday, October 7th. Morgan Stanley initiated coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target for the company. Mizuho boosted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus target price of $428.13.

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’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 owns 66,415 shares in the company, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. 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 is available through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the company’s 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 completion of the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.