Abundance Wealth Counselors Sells 24 Shares of Hubbell Incorporated (NYSE:HUBB)

Abundance Wealth Counselors cut its position in Hubbell Incorporated (NYSE:HUBB) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,532 shares of the industrial products company’s stock after selling 24 shares during the quarter. Abundance Wealth Counselors’ holdings in Hubbell were worth $1,061,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HUBB. Groupama Asset Managment raised its stake in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Hubbell in the 3rd quarter worth $33,000. Versant Capital Management Inc raised its position in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Hubbell during the 3rd quarter worth $41,000. Finally, Quarry LP purchased a new position in Hubbell in the second quarter worth $49,000. 88.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of research reports. Wells Fargo & Company cut their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Mizuho upped their price objective 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, StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Hubbell has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Price Performance

Shares of NYSE HUBB opened at $422.94 on Friday. The company has a 50 day simple moving average of $439.29 and a two-hundred day simple moving average of $421.26. Hubbell Incorporated has a fifty-two week low of $334.17 and a fifty-two week high of $481.35. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 1.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.95 EPS. Analysts expect that Hubbell Incorporated will post 16.48 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.25%. Hubbell’s payout ratio is 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.