Bourgeon Capital Management LLC Cuts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Bourgeon Capital Management LLC lowered its position in Hubbell Incorporated (NYSE:HUBB) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,347 shares of the industrial products company’s stock after selling 121 shares during the period. Hubbell comprises about 1.7% of Bourgeon Capital Management LLC’s portfolio, making the stock its 27th largest holding. Bourgeon Capital Management LLC’s holdings in Hubbell were worth $9,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its position in Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares during the last quarter. State Street Corp boosted its holdings in shares of Hubbell by 1.1% in the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after buying an additional 22,507 shares during the last quarter. International Assets Investment Management LLC boosted its holdings 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 worth $8,223,740,000 after buying an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after buying an additional 82,258 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after buying an additional 8,278 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.78% of the stock is owned by company insiders.

Hubbell Trading Up 3.0 %

Shares of HUBB opened at $450.58 on Wednesday. Hubbell Incorporated has a twelve month low of $326.13 and a twelve month high of $481.35. The stock has a market cap of $24.18 billion, a PE ratio of 32.46, a P/E/G ratio of 1.50 and a beta of 0.93. 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 business’s 50-day moving average price is $441.97 and its 200-day moving average price is $418.17.

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

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $1.32 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.17%. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HUBB shares. Morgan Stanley increased 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. 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 report on Thursday, October 10th. Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $471.50.

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.