Hubbell Incorporated (NYSE:HUBB) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. reduced its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 64.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 Securities and Exchange Commission.

Several other large investors also recently modified their holdings of HUBB. Nvwm LLC acquired a new stake in Hubbell during the 1st quarter worth about $25,000. Riverview Trust Co purchased a new stake in shares of Hubbell during the 1st quarter valued at $52,000. Northwest Investment Counselors LLC bought a new position in Hubbell during the first quarter valued at about $56,000. Quarry LP purchased a new stake in shares of Hubbell during the 2nd quarter worth approximately $49,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Hubbell during the 2nd quarter valued at $62,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Up 0.9 %

NYSE:HUBB traded up $3.82 during midday trading on Friday, hitting $429.72. 261,580 shares of the company traded hands, compared to its average volume of 448,709. The firm has a market capitalization of $23.07 billion, a P/E ratio of 32.04, a P/E/G ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $433.03. The firm's fifty day moving average is $393.01 and its 200-day moving average is $390.94. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the business earned $4.07 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.14%. Hubbell's dividend payout ratio is presently 36.39%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Hubbell from $397.00 to $400.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Hubbell from $383.00 to $385.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They set an "equal weight" rating and a $407.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a "hold" rating to a "buy" rating and boosted their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, Barclays increased their target price on shares of Hubbell from $368.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $408.88.

Insider Activity at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares of the company's stock, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.