Crossmark Global Holdings Inc. Sells 411 Shares of Hubbell Incorporated (NYSE:HUBB)

Crossmark Global Holdings Inc. reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 14.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,401 shares of the industrial products company’s stock after selling 411 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Hubbell were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HUBB. Quarry LP bought a new stake in Hubbell in the 2nd quarter valued at $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell in the 3rd quarter valued at $58,000. Ashton Thomas Private Wealth LLC acquired a new stake in Hubbell in the 2nd quarter valued at $62,000. Massmutual Trust Co. FSB ADV increased its stake in Hubbell by 23.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after buying an additional 35 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after buying an additional 72 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Down 3.0 %

Shares of HUBB opened at $440.07 on Friday. Hubbell Incorporated has a 52 week low of $287.06 and a 52 week high of $481.35. The firm has a market cap of $23.62 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. The firm’s 50-day simple moving average is $432.35 and its 200 day simple moving average is $399.10. 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 quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business earned $3.95 EPS. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.20%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is 38.04%.

Analyst Ratings Changes

Several brokerages have issued reports on HUBB. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. 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. Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $445.56.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated 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 owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is owned by company 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.