Hubbell Inc $HUBB Stock: Parcion Private Wealth LLC Reduces Stake

Parcion Private Wealth LLC decreased its position in shares of Hubbell Inc (NYSE:HUBB) by 96.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 469 shares of the industrial products company’s stock after selling 11,839 shares during the period. Parcion Private Wealth LLC’s holdings in Hubbell were worth $213,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. acquired a new position in shares of Hubbell during the 3rd quarter worth about $776,000. North Dakota State Investment Board boosted its stake in Hubbell by 1.9% during the 3rd quarter. North Dakota State Investment Board now owns 1,622 shares of the industrial products company’s stock valued at $736,000 after purchasing an additional 31 shares during the period. Generali Asset Management SPA SGR boosted its stake in Hubbell by 22.5% during the 3rd quarter. Generali Asset Management SPA SGR now owns 1,109 shares of the industrial products company’s stock valued at $503,000 after purchasing an additional 204 shares during the period. Verdence Capital Advisors LLC boosted its stake in Hubbell by 29.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,654 shares of the industrial products company’s stock valued at $1,204,000 after purchasing an additional 610 shares during the period. Finally, Signaturefd LLC grew its holdings in Hubbell by 3.1% in the 3rd quarter. Signaturefd LLC now owns 905 shares of the industrial products company’s stock valued at $411,000 after buying an additional 27 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HUBB has been the topic of several recent analyst reports. Robert W. Baird dropped their price target on Hubbell from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. Seaport Research Partners reiterated a “buy” rating and set a $580.00 price target on shares of Hubbell in a report on Wednesday, September 30th. Wells Fargo & Company reduced their price objective on Hubbell from $531.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 28th. Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $546.00.

Hubbell Stock Performance

NYSE:HUBB opened at $449.19 on Wednesday. The firm’s 50-day moving average is $458.16 and its 200-day moving average is $487.43. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.87 and a current ratio of 1.53. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.07 and a beta of 0.84.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.75 by $0.16. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company earned $5.17 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. Equities research analysts anticipate that Hubbell Inc will post 20.54 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a dividend of $1.52 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.42. This represents a $6.08 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, November 30th. Hubbell’s dividend payout ratio is presently 33.29%.

Insider Buying and Selling

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This represents a 15.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.63% of the stock is currently owned by company insiders.

Hubbell Profile

Hubbell Incorporated (NYSE:HUBB) is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell’s Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.