Consolidated Planning Corp Sells 1,388 Shares of Hubbell Incorporated (NYSE:HUBB)

Consolidated Planning Corp trimmed its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 38.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,237 shares of the industrial products company's stock after selling 1,388 shares during the quarter. Consolidated Planning Corp's holdings in Hubbell were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company's stock valued at $743,970,000 after acquiring an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company's stock valued at $821,989,000 after purchasing an additional 286,134 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Hubbell by 42,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company's stock valued at $8,223,740,000 after buying an additional 1,915,383 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company's stock worth $487,995,000 after purchasing an additional 46,813 shares during the last quarter. Finally, Impax Asset Management Group plc grew its holdings in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock worth $514,377,000 after purchasing an additional 279,654 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Performance

Shares of NYSE HUBB traded up $0.96 during mid-day trading on Friday, reaching $467.94. 387,617 shares of the company were exchanged, compared to its average volume of 443,579. The company's 50-day simple moving average is $426.63 and its 200-day simple moving average is $397.42. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $25.12 billion, a P/E ratio of 33.64, a P/E/G ratio of 1.58 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $281.45 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results 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. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.95 EPS. As a group, research analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.13%. This is a positive change 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 (DPR) is currently 35.16%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Tuesday. Barclays increased their price objective on shares of Hubbell from $400.00 to $402.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Stephens reiterated an "overweight" rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered Hubbell from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $445.56.

Hubbell Profile

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.