OneDigital Investment Advisors LLC Decreases Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

OneDigital Investment Advisors LLC lowered its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 3,561 shares of the industrial products company’s stock after selling 49 shares during the period. OneDigital Investment Advisors LLC’s holdings in Hubbell were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HUBB. Empowered Funds LLC bought a new position in Hubbell during the first quarter valued at about $327,000. Davis R M Inc. bought a new position in shares of Hubbell during the 1st quarter valued at approximately $409,000. Rockport Wealth LLC bought a new stake in shares of Hubbell in the 1st quarter worth approximately $405,000. UniSuper Management Pty Ltd raised its holdings in shares of Hubbell by 394.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,043 shares of the industrial products company’s stock worth $1,263,000 after purchasing an additional 2,428 shares during the period. Finally, InterOcean Capital Group LLC purchased a new position in Hubbell in the first quarter valued at approximately $531,000. Institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Performance

NYSE HUBB opened at $437.61 on Monday. The company’s 50 day simple moving average is $435.08 and its two-hundred day simple moving average is $399.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1 year low of $287.06 and a 1 year high of $481.35. The stock has a market capitalization of $23.49 billion, a PE ratio of 31.53, a P/E/G ratio of 1.63 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $3.95 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio is 38.04%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays raised their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Morgan Stanley upped their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $445.56.

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.