Princeton Global Asset Management LLC Sells 80 Shares of Hubbell Incorporated (NYSE:HUBB)

Princeton Global Asset Management LLC lessened its holdings in Hubbell Incorporated (NYSE:HUBB) by 6.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,163 shares of the industrial products company’s stock after selling 80 shares during the period. Princeton Global Asset Management LLC’s holdings in Hubbell were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HUBB. Janney Montgomery Scott LLC raised its position in Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after acquiring an additional 15,806 shares during the period. Salem Investment Counselors Inc. raised its holdings in Hubbell by 26.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after purchasing an additional 1,886 shares during the period. LGT Capital Partners LTD. bought a new position in Hubbell in the 3rd quarter worth $39,687,000. Principal Financial Group Inc. lifted its position in Hubbell by 7.1% during the third 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. Finally, Impax Asset Management Group plc grew its holdings in Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 0.9 %

Shares of HUBB stock opened at $422.94 on Monday. The stock has a market cap of $22.70 billion, a P/E ratio of 30.47, a PEG ratio of 1.45 and a beta of 0.92. The company’s fifty day simple moving average is $439.29 and its two-hundred day simple moving average is $421.85. 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 Incorporated has a 52 week low of $334.17 and a 52 week high of $481.35.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.25%. Hubbell’s payout ratio is presently 38.04%.

Insider Buying and Selling at Hubbell

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

Analyst Ratings Changes

A number of research firms have recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.