Sigma Planning Corp Decreases Position in Hubbell Incorporated (NYSE:HUBB)

Sigma Planning Corp decreased its position in Hubbell Incorporated (NYSE:HUBB) by 62.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 656 shares of the industrial products company’s stock after selling 1,104 shares during the period. Sigma Planning Corp’s holdings in Hubbell were worth $216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Star Asset Management Inc. lifted its stake in shares of Hubbell by 1.5% during the 3rd quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after buying an additional 36 shares in the last quarter. Xponance Inc. boosted its stake in Hubbell by 0.4% in the 4th quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after purchasing an additional 36 shares during the period. Atria Wealth Solutions Inc. grew its holdings in Hubbell by 2.4% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock valued at $603,000 after buying an additional 45 shares in the last quarter. Grove Bank & Trust increased its position in shares of Hubbell by 14.3% during the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock valued at $125,000 after buying an additional 50 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Hubbell by 6.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 881 shares of the industrial products company’s stock worth $276,000 after buying an additional 50 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Down 0.1 %

Shares of NYSE HUBB opened at $407.15 on Tuesday. The stock has a market capitalization of $21.83 billion, a P/E ratio of 28.98, a PEG ratio of 2.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The firm’s 50 day simple moving average is $396.93 and its two-hundred day simple moving average is $343.79.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $2.60 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts expect that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, May 31st. Hubbell’s dividend payout ratio is presently 34.73%.

Analyst Upgrades and Downgrades

HUBB has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. Mizuho lifted their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Barclays boosted their price objective on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $383.57.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gerben Bakker sold 13,355 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the sale, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock worth $12,065,100. 0.66% of the stock is currently owned by insiders.

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.