Compass Wealth Management LLC Sells 1,190 Shares of Hubbell Inc (NYSE:HUBB)

Compass Wealth Management LLC reduced its position in Hubbell Inc (NYSE:HUBB - Free Report) by 67.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 565 shares of the industrial products company's stock after selling 1,190 shares during the period. Compass Wealth Management LLC's holdings in Hubbell were worth $187,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. HM Payson & Co. raised its holdings in Hubbell by 18.9% during the first quarter. HM Payson & Co. now owns 180,758 shares of the industrial products company's stock valued at $59,815,000 after buying an additional 28,718 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Hubbell by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock valued at $937,623,000 after acquiring an additional 7,142 shares during the period. Wayfinding Financial LLC bought a new position in Hubbell during the first quarter valued at about $96,000. OneDigital Investment Advisors LLC increased its stake in Hubbell by 5.3% during the first quarter. OneDigital Investment Advisors LLC now owns 3,750 shares of the industrial products company's stock valued at $1,241,000 after acquiring an additional 188 shares during the period. Finally, Calamos Advisors LLC boosted its holdings in Hubbell by 1.1% during the first quarter. Calamos Advisors LLC now owns 8,617 shares of the industrial products company's stock valued at $2,851,000 after purchasing an additional 96 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Barclays boosted their price objective on shares of Hubbell from $400.00 to $414.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. upped their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company set a $420.00 price objective on shares of Hubbell and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $455.50.

Hubbell Stock Down 0.5%

Shares of Hubbell stock traded down $2.14 during trading hours on Monday, reaching $412.70. 526,067 shares of the company's stock were exchanged, compared to its average volume of 532,995. The company has a 50 day moving average of $387.73 and a two-hundred day moving average of $382.86. Hubbell Inc has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. The stock has a market cap of $22.03 billion, a P/E ratio of 27.92, a P/E/G ratio of 1.45 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted $3.60 earnings per share. The company's revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $1.32 per share. The ex-dividend date was Friday, May 30th. This represents a $5.28 annualized dividend and a yield of 1.28%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Insider Activity at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the transaction, the director directly owned 1,727 shares of the company's stock, valued at $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the transaction, the chief executive officer directly owned 82,101 shares in the company, valued at $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.76% of the company's stock.

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.