LGT Financial Advisors LLC Sells 95 Shares of Hubbell Incorporated (NYSE:HUBB)

LGT Financial Advisors LLC trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 30.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 212 shares of the industrial products company’s stock after selling 95 shares during the quarter. LGT Financial Advisors LLC’s holdings in Hubbell were worth $91,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC boosted its holdings in shares of Hubbell by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,280 shares of the industrial products company’s stock valued at $548,000 after buying an additional 38 shares during the period. Pittenger & Anderson Inc. acquired a new position in Hubbell in the 3rd quarter worth $129,000. Impax Asset Management Group plc increased its holdings in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares in the last quarter. Arlington Capital Management Inc. acquired a new stake in shares of Hubbell in the 3rd quarter valued at about $651,000. Finally, Vestor Capital LLC lifted its holdings in shares of Hubbell by 100.0% in the third quarter. Vestor Capital LLC now owns 4,126 shares of the industrial products company’s stock valued at $1,767,000 after purchasing an additional 2,063 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 7.4 %

Shares of HUBB stock opened at $472.12 on Thursday. Hubbell Incorporated has a 52-week low of $274.42 and a 52-week high of $481.35. The stock has a market cap of $25.34 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 1.58 and a beta of 0.90. The firm’s 50-day moving average is $425.20 and its 200-day moving average is $396.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $3.95 EPS. Hubbell’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.12%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HUBB. Wells Fargo & Company lifted their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Hubbell in a research note on Tuesday. They set an “outperform” rating and a $535.00 price objective for the company. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

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.