Agate Pass Investment Management LLC Decreases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Agate Pass Investment Management LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,283 shares of the industrial products company’s stock after selling 194 shares during the period. Hubbell comprises 1.4% of Agate Pass Investment Management LLC’s holdings, making the stock its 23rd biggest holding. Agate Pass Investment Management LLC’s holdings in Hubbell were worth $3,051,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HUBB. Mizuho Securities USA LLC increased its stake in shares of Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after buying an additional 7,975,855 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after buying an additional 1,915,383 shares during the period. Impax Asset Management Group plc grew its holdings in shares of Hubbell by 30.3% during the third 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 buying an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Hubbell by 268.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after acquiring an additional 168,380 shares during the period. Finally, LGT Capital Partners LTD. acquired a new position in shares of Hubbell in the 3rd quarter valued at $39,687,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE:HUBB traded down $2.89 during trading on Monday, reaching $417.36. The stock had a trading volume of 296,639 shares, compared to its average volume of 356,852. 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 Incorporated has a 1-year low of $319.06 and a 1-year high of $481.35. The stock has a market cap of $22.40 billion, a PE ratio of 30.07, a PEG ratio of 1.69 and a beta of 0.93. The business has a fifty day moving average price of $445.06 and a 200-day moving average price of $415.49.

Hubbell (NYSE:HUBB) last issued its 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. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.95 earnings per share. On average, equities analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal 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 issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 38.04%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several research analyst reports. Mizuho boosted their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company reduced their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley increased their price objective 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. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Finally, Barclays lifted their price target on Hubbell from $402.00 to $475.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $471.50.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.