International Assets Investment Management LLC Sells 1,915,394 Shares of Hubbell Incorporated (NYSE:HUBB)

International Assets Investment Management LLC reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 99.8% during the 4th quarter, HoldingsChannel reports. The firm owned 4,471 shares of the industrial products company’s stock after selling 1,915,394 shares during the quarter. International Assets Investment Management LLC’s holdings in Hubbell were worth $1,878,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC boosted its position in Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after buying an additional 1,252 shares in the last quarter. LGT Capital Partners LTD. bought a new position in shares of Hubbell in the third quarter valued at approximately $39,687,000. Principal Financial Group Inc. boosted its holdings in shares of Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after acquiring an additional 15,215 shares in the last quarter. Private Advisor Group LLC increased its holdings in Hubbell by 89.0% during the 2nd quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock valued at $1,713,000 after purchasing an additional 2,207 shares in the last quarter. Finally, 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 valued at $514,377,000 after purchasing an additional 279,654 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HUBB has been the topic of several research analyst reports. Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Barclays boosted their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $471.50.

Hubbell Trading Up 0.2 %

Shares of NYSE HUBB opened at $434.76 on Thursday. The company’s 50 day simple moving average is $444.93 and its 200 day simple moving average is $414.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a fifty-two week low of $319.03 and a fifty-two week high of $481.35. The firm has a market capitalization of $23.33 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.69 and a beta of 0.93.

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

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $1.32 dividend. The ex-dividend date was Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. Hubbell’s dividend payout ratio is 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.