Bleakley Financial Group LLC Has $633,000 Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Bleakley Financial Group LLC lowered its position in shares of Hubbell Incorporated (NYSE:HUBB) by 28.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,511 shares of the industrial products company’s stock after selling 596 shares during the quarter. Bleakley Financial Group LLC’s holdings in Hubbell were worth $633,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after buying an additional 15,806 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after acquiring an additional 1,886 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after purchasing an additional 15,215 shares in the last quarter. LGT Capital Partners LTD. bought a new position in Hubbell in the 3rd quarter valued at $39,687,000. Finally, Impax Asset Management Group plc boosted its stake in Hubbell by 30.3% in the third 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 in the last quarter. 88.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HUBB. Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Price Performance

Shares of HUBB stock opened at $401.04 on Monday. The firm’s 50 day moving average price is $433.34 and its two-hundred day moving average price is $422.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.64. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The stock has a market cap of $21.52 billion, a PE ratio of 27.93, a PEG ratio of 1.36 and a beta of 0.92.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the business posted $3.69 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. As a group, analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.32%. Hubbell’s payout ratio is currently 36.77%.

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.