Covea Finance Sells 29,200 Shares of Hubbell Incorporated (NYSE:HUBB)

Covea Finance cut its stake in shares of Hubbell Incorporated (NYSE:HUBBFree Report) by 59.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,000 shares of the industrial products company’s stock after selling 29,200 shares during the quarter. Covea Finance’s holdings in Hubbell were worth $6,579,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. North Star Asset Management Inc. boosted its position in Hubbell by 1.5% during the third quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after purchasing an additional 36 shares during the last quarter. Tevis Investment Management lifted its position in shares of Hubbell by 4.0% in the third quarter. Tevis Investment Management now owns 960 shares of the industrial products company’s stock valued at $301,000 after buying an additional 37 shares during the last quarter. Lindenwold Advisors INC lifted its position in shares of Hubbell by 1.6% in the third quarter. Lindenwold Advisors INC now owns 2,584 shares of the industrial products company’s stock valued at $810,000 after buying an additional 41 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Hubbell by 2.4% in the third quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock valued at $603,000 after buying an additional 45 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of Hubbell by 2.2% in the second quarter. Bleakley Financial Group LLC now owns 2,233 shares of the industrial products company’s stock valued at $740,000 after buying an additional 49 shares during the last quarter. 85.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the transaction, the vice president now owns 3,646 shares in the company, valued at approximately $1,286,090.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total value of $387,308.52. Following the completion of the transaction, the vice president now owns 3,646 shares in the company, valued at approximately $1,286,090.04. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $12,065,100 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE HUBB traded down $6.69 during trading hours on Friday, reaching $395.14. 975,253 shares of the stock were exchanged, compared to its average volume of 428,738. The firm has a market capitalization of $21.19 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 2.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. Hubbell Incorporated has a 52 week low of $219.77 and a 52 week high of $404.15. The stock’s fifty day simple moving average is $355.84 and its 200 day simple moving average is $323.73.

Hubbell (NYSE:HUBBGet Free Report) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $2.60 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts predict that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 29th will be paid a dividend of $1.22 per share. The ex-dividend date is Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a yield of 1.24%. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Hubbell from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $333.00 to $335.00 in a research report on Friday, November 17th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research report on Monday. They issued a “hold” rating and a $427.00 price objective for the company. Wells Fargo & Company raised their price objective on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, TD Cowen began coverage on Hubbell in a research report on Friday, December 8th. They issued an “outperform” rating and a $338.00 price objective for the company. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $363.57.

Check Out Our Latest Analysis on HUBB

Hubbell Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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