International Assets Investment Management LLC Reduces Position in Hubbell Incorporated (NYSE:HUBB)

International Assets Investment Management LLC cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 99.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,471 shares of the industrial products company's stock after selling 1,915,394 shares during the period. International Assets Investment Management LLC's holdings in Hubbell were worth $1,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HUBB. Private Advisor Group LLC lifted its stake in shares of Hubbell by 89.0% during the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company's stock worth $1,713,000 after buying an additional 2,207 shares during the period. Savant Capital LLC increased its holdings in shares of Hubbell by 2.6% in the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company's stock valued at $440,000 after purchasing an additional 31 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company's stock valued at $1,347,000 after purchasing an additional 1,252 shares during the period. Oak Thistle LLC purchased a new position in shares of Hubbell in the second quarter worth about $255,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hubbell during the second quarter worth about $62,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Barclays increased their price target on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Finally, Mizuho boosted their price objective on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $471.50.

Hubbell Price Performance

NYSE HUBB traded up $0.80 during trading hours on Thursday, reaching $434.76. The company's stock had a trading volume of 333,073 shares, compared to its average volume of 326,915. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 1.69 and a beta of 0.93. The company's 50-day moving average is $445.00 and its two-hundred day moving average is $414.50. 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 $319.03 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $3.95 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Hubbell's previous quarterly dividend of $1.22. Hubbell's payout ratio is currently 38.04%.

Hubbell Company 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.