Glenmede Trust Co. NA Cuts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Glenmede Trust Co. NA lowered its position in Hubbell Incorporated (NYSE:HUBB) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,066 shares of the industrial products company’s stock after selling 375 shares during the period. Glenmede Trust Co. NA’s holdings in Hubbell were worth $4,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in HUBB. Prospera Private Wealth LLC acquired a new position in shares of Hubbell during the 3rd quarter worth $33,000. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the third quarter worth about $41,000. Quarry LP acquired a new position in Hubbell during the second quarter worth about $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell in the third quarter valued at about $58,000. Finally, GAMMA Investing LLC lifted its position in shares of Hubbell by 84.7% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Mizuho boosted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Barclays raised their target price on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and an average target price of $449.11.

Hubbell Price Performance

Hubbell stock opened at $460.09 on Friday. The stock has a market capitalization of $24.69 billion, a P/E ratio of 33.15, a P/E/G ratio of 1.71 and a beta of 0.90. Hubbell Incorporated has a 12-month low of $295.60 and a 12-month high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm’s 50-day moving average is $445.68 and its two-hundred day moving average is $404.28.

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

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

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.