Simplicity Wealth LLC Sells 1,912 Shares of Hubbell Incorporated (NYSE:HUBB)

Simplicity Wealth LLC lessened its holdings in Hubbell Incorporated (NYSE:HUBB) by 33.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,848 shares of the industrial products company’s stock after selling 1,912 shares during the quarter. Simplicity Wealth LLC’s holdings in Hubbell were worth $1,648,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of HUBB. Vanguard Group Inc. boosted its position in Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after buying an additional 918,808 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after acquiring an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after acquiring an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after acquiring an additional 286,134 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Hubbell by 52.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,321 shares of the industrial products company’s stock worth $130,691,000 after purchasing an additional 137,179 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HUBB shares. Wells Fargo & Company boosted their price target on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley initiated coverage on shares of Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a research note on Thursday. Finally, Barclays raised their target price on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $423.13.

Hubbell Trading Up 3.0 %

Shares of HUBB stock opened at $456.57 on Friday. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $457.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The stock has a 50 day simple moving average of $399.82 and a two-hundred day simple moving average of $392.08. The company has a market cap of $24.51 billion, a P/E ratio of 34.05, a PEG ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. Hubbell’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.07 EPS. Research analysts forecast that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.07%. Hubbell’s dividend payout ratio is presently 36.39%.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate 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.