Bard Financial Services Inc. Has $1.18 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Bard Financial Services Inc. decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 64.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,750 shares of the industrial products company’s stock after selling 5,000 shares during the period. Bard Financial Services Inc.’s holdings in Hubbell were worth $1,178,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HUBB. Cetera Advisors LLC acquired a new position in shares of Hubbell during the 1st quarter valued at about $582,000. CWM LLC increased its holdings in shares of Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after acquiring an additional 28 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Hubbell by 257.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,344 shares of the industrial products company’s stock valued at $4,146,000 after acquiring an additional 8,168 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after acquiring an additional 1,359 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Hubbell by 4.2% during the 2nd quarter. V Square Quantitative Management LLC now owns 892 shares of the industrial products company’s stock valued at $326,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein began coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Barclays increased their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $472.13.

Hubbell Price Performance

Shares of HUBB stock opened at $447.00 on Wednesday. The stock has a 50 day moving average of $450.21 and a two-hundred day moving average of $407.19. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 12 month low of $311.38 and a 12 month high of $481.35. The company has a market capitalization of $23.99 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.72 and a beta of 0.91.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $3.95 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.18%. Hubbell’s dividend payout ratio is presently 38.04%.

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.