Jacobs & Co. CA Has $7.92 Million Position in Hubbell Incorporated (NYSE:HUBB)

Jacobs & Co. CA cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.8% in the fourth quarter, Holdings Channel reports. The fund owned 24,066 shares of the industrial products company’s stock after selling 433 shares during the period. Jacobs & Co. CA’s holdings in Hubbell were worth $7,916,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. First Manhattan Co. bought a new position in shares of Hubbell in the first quarter valued at about $28,000. Atlas Capital Advisors LLC acquired a new position in shares of Hubbell during the fourth quarter worth approximately $40,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $47,000. Coppell Advisory Solutions LLC bought a new position in Hubbell in the 2nd quarter worth approximately $50,000. Finally, Compass Wealth Management LLC acquired a new position in Hubbell during the 4th quarter worth $82,000. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gerben Bakker sold 13,355 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the transaction, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is owned by company insiders.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $414.04 on Thursday. The stock has a 50 day moving average of $369.24 and a 200-day moving average of $328.49. Hubbell Incorporated has a 12 month low of $219.77 and a 12 month high of $419.64. The company has a market capitalization of $22.20 billion, a P/E ratio of 29.47, a P/E/G ratio of 2.52 and a beta of 0.93. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. Hubbell’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.60 EPS. As a group, equities research analysts predict that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $1.22 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.18%. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Analysts Set New Price Targets

HUBB has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays increased their price target on Hubbell from $330.00 to $340.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. Finally, Mizuho boosted their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $375.00.

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.