Hubbell Incorporated (NYSE:HUBB) Position Cut by Apollon Wealth Management LLC

Apollon Wealth Management LLC trimmed its holdings in Hubbell Incorporated (NYSE:HUBB) by 18.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 554 shares of the industrial products company’s stock after selling 124 shares during the quarter. Apollon Wealth Management LLC’s holdings in Hubbell were worth $237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OLD National Bancorp IN lifted its position in shares of Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 22 shares during the last quarter. CWM LLC increased its stake in shares of Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares during the last quarter. Detalus Advisors LLC increased its stake in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares during the last quarter. Finally, Savant Capital LLC increased its position in Hubbell by 2.6% during the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after buying an additional 31 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HUBB. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and increased their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Trading Up 1.7 %

Hubbell stock opened at $444.93 on Tuesday. The stock has a 50-day simple moving average of $435.08 and a 200 day simple moving average of $399.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The stock has a market capitalization of $23.88 billion, a P/E ratio of 31.45, a PEG ratio of 1.63 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $293.91 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $3.95 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently disclosed 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 represents a $5.28 dividend on an annualized basis and a yield of 1.19%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is 38.04%.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by 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.