Hubbell Inc $HUBB Stake Lowered by Parcion Private Wealth LLC

Parcion Private Wealth LLC reduced its stake in shares of Hubbell Inc (NYSE:HUBB) by 96.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 469 shares of the industrial products company’s stock after selling 11,839 shares during the period. Parcion Private Wealth LLC’s holdings in Hubbell were worth $213,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Schuylkill Financial LLC acquired a new stake in Hubbell during the second quarter valued at $30,000. Keating Financial Advisory Services Inc. purchased a new position in Hubbell in the second quarter valued at about $35,000. Leonteq Securities AG purchased a new position in Hubbell in the first quarter valued at about $33,000. Fiduciary Financial Advisors acquired a new position in Hubbell in the 2nd quarter worth about $37,000. Finally, Arlington Trust Co LLC increased its position in Hubbell by 83.7% in the 2nd quarter. Arlington Trust Co LLC now owns 79 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 36 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hubbell

In related news, VP Jonathan Del Nero sold 547 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president directly owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Seaport Research Partners reissued a “buy” rating and issued a $580.00 price target on shares of Hubbell in a research note on Wednesday, September 30th. Weiss Ratings downgraded Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 29th. Robert W. Baird dropped their price objective on Hubbell from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 28th. Finally, Wells Fargo & Company cut their price objective on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 28th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $546.00.

Hubbell Trading Up 3.6%

Shares of NYSE:HUBB opened at $449.19 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.87 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $23.73 billion, a PE ratio of 26.33, a P/E/G ratio of 2.07 and a beta of 0.84. Hubbell Inc has a 1 year low of $403.82 and a 1 year high of $565.50. The firm has a fifty day moving average price of $458.16 and a 200 day moving average price of $487.43.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.75 by $0.16. Hubbell had a return on equity of 27.33% and a net margin of 13.78%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $5.17 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. Analysts expect that Hubbell Inc will post 20.54 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $1.52 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Hubbell’s previous quarterly dividend of $1.42. Hubbell’s payout ratio is currently 33.29%.

Hubbell Company Profile

Hubbell Incorporated (NYSE:HUBB) is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell’s Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.