Consolidated Planning Corp Sells 1,388 Shares of Hubbell Incorporated (NYSE:HUBB)

Consolidated Planning Corp trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 38.3% in the third quarter, HoldingsChannel reports. The firm owned 2,237 shares of the industrial products company’s stock after selling 1,388 shares during the quarter. Consolidated Planning Corp’s holdings in Hubbell were worth $958,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OLD National Bancorp IN raised its stake in shares of Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 22 shares during the period. CWM LLC raised its position in Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares during the period. Meeder Advisory Services Inc. boosted its stake in Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 30 shares during the last quarter. Detalus Advisors LLC grew its position in shares of Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 30 shares during the period. Finally, Ballentine Partners LLC increased its stake in shares of Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on HUBB. Wells Fargo & Company upped their price objective on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho boosted their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Barclays boosted their price objective on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday. They set an “outperform” rating and a $535.00 target price for the company. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Stock Down 1.1 %

HUBB stock opened at $466.98 on Friday. The stock has a 50-day simple moving average of $426.63 and a two-hundred day simple moving average of $397.42. Hubbell Incorporated has a twelve month low of $278.62 and a twelve month high of $481.35. The firm has a market capitalization of $25.07 billion, a PE ratio of 33.64, a PEG ratio of 1.58 and a beta of 0.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during 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% compared to the same quarter last year. During the same period last year, the business earned $3.95 earnings per share. On average, equities analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.13%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 35.16%.

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.