Ritholtz Wealth Management Cuts Holdings in Hubbell Incorporated (NYSE:HUBB)

Ritholtz Wealth Management lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 6.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,254 shares of the industrial products company’s stock after selling 505 shares during the quarter. Ritholtz Wealth Management’s holdings in Hubbell were worth $2,386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Manhattan Co. acquired a new position in Hubbell during the first quarter worth approximately $28,000. Atlas Capital Advisors LLC acquired a new position in Hubbell during the 4th quarter worth approximately $40,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Hubbell during the 4th quarter worth approximately $47,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Hubbell in the second quarter valued at approximately $50,000. Finally, Compass Wealth Management LLC purchased a new stake in Hubbell during the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the sale, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the sale, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the sale, the vice president now directly owns 3,646 shares in the company, valued at $1,286,090.04. The disclosure for this sale can be found here. In the last three months, insiders sold 34,125 shares of company stock worth $12,065,100. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on HUBB shares. Mizuho lifted their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company lifted their price objective on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. TD Cowen initiated coverage on Hubbell in a research note on Friday, December 8th. They set an “outperform” rating and a $338.00 price objective on the stock. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $375.00.

Hubbell Trading Up 0.3 %

NYSE:HUBB traded up $1.19 during trading hours on Thursday, reaching $415.05. 290,930 shares of the company were exchanged, compared to its average volume of 416,221. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The firm has a market cap of $22.26 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.52 and a beta of 0.93. The stock has a 50 day simple moving average of $369.24 and a 200 day simple moving average of $328.49. Hubbell Incorporated has a 52-week low of $219.77 and a 52-week high of $419.64.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 EPS 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 the consensus estimate of $1.32 billion. During the same period last year, the business posted $2.60 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, analysts predict that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $1.22 per share. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a yield of 1.18%. Hubbell’s dividend payout ratio (DPR) is 34.73%.

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.