TT International Asset Management LTD Lowers Stake in Hubbell Incorporated (NYSE:HUBB)

TT International Asset Management LTD reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 95.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85 shares of the industrial products company’s stock after selling 1,600 shares during the quarter. TT International Asset Management LTD’s holdings in Hubbell were worth $35,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HUBB. Groupama Asset Managment raised its holdings in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Hubbell during the third quarter valued at about $33,000. Versant Capital Management Inc increased its holdings in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the third quarter valued at about $41,000. Finally, Quarry LP purchased a new stake in Hubbell in the second quarter valued at approximately $49,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Performance

Shares of Hubbell stock opened at $420.64 on Monday. The business has a 50-day moving average of $445.06 and a 200 day moving average of $415.49. Hubbell Incorporated has a 12 month low of $319.06 and a 12 month high of $481.35. The stock has a market capitalization of $22.58 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last announced its earnings results 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 analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $3.95 EPS. As a group, sell-side analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is 38.04%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HUBB shares. Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Mizuho upped their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $471.50.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.