Hubbell Incorporated (NYSE:HUBB) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC decreased its holdings in Hubbell Incorporated (NYSE:HUBB) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 183,114 shares of the industrial products company’s stock after selling 21,606 shares during the quarter. Hubbell accounts for about 1.5% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 17th largest position. Ceredex Value Advisors LLC owned approximately 0.34% of Hubbell worth $78,437,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Nvwm LLC purchased a new position in Hubbell during the 1st quarter worth approximately $25,000. Quarry LP purchased a new position in Hubbell during the 2nd quarter worth approximately $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell during the 3rd quarter worth approximately $58,000. Ashton Thomas Private Wealth LLC purchased a new position in Hubbell during the 2nd quarter worth approximately $62,000. Finally, Massmutual Trust Co. FSB ADV grew its position in Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated 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 in the company, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents 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 insiders.

Hubbell Stock Performance

NYSE:HUBB opened at $425.70 on Friday. The firm’s 50-day moving average is $421.70 and its 200-day moving average is $395.78. Hubbell Incorporated has a 52-week low of $274.42 and a 52-week high of $461.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.66. The company has a market cap of $22.85 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.60 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted 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 company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $3.95 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced 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 1.24%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is presently 38.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Morgan Stanley lifted their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday. Mizuho lifted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $434.38.

About Hubbell

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.