Simon Quick Advisors LLC Sells 2,247 Shares of Hubbell Incorporated (NYSE:HUBB)

Simon Quick Advisors LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,650 shares of the industrial products company's stock after selling 2,247 shares during the period. Hubbell makes up about 0.6% of Simon Quick Advisors LLC's holdings, making the stock its 26th biggest position. Simon Quick Advisors LLC's holdings in Hubbell were worth $9,907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Groupama Asset Managment raised its position in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after buying an additional 1,010 shares during the period. Prospera Private Wealth LLC acquired a new position in Hubbell during the third quarter valued at $33,000. Versant Capital Management Inc raised its position in Hubbell by 64.6% during the fourth 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 during the period. Ashton Thomas Securities LLC acquired a new position in Hubbell in the 3rd quarter worth about $41,000. Finally, Quarry LP acquired a new position in Hubbell in the 2nd quarter worth about $49,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm's stock in a transaction 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 of the company's stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. 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 report on Thursday, October 10th. Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and dropped their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target for the company. Finally, Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $471.50.

Hubbell Stock Performance

NYSE:HUBB traded up $8.25 during mid-day trading on Wednesday, hitting $458.63. 602,414 shares of the company's stock traded hands, compared to its average volume of 456,112. The firm has a 50 day moving average of $441.97 and a two-hundred day moving average of $418.17. Hubbell Incorporated has a 12 month low of $326.13 and a 12 month high of $481.35. The firm has a market capitalization of $24.61 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $3.95 EPS. The company's quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Hubbell Incorporated will post 16.48 earnings per share for the current fiscal 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 issued a $1.32 dividend. The ex-dividend date was Friday, November 29th. This is a boost from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.15%. Hubbell's dividend payout ratio is presently 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.