IFG Advisory LLC Buys New Position in Hubbell Incorporated (NYSE:HUBB)

IFG Advisory LLC purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,299 shares of the industrial products company’s stock, valued at approximately $475,000.

A number of other hedge funds have also recently modified their holdings of HUBB. CWM LLC lifted its position in Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 28 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Hubbell by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after buying an additional 30 shares in the last quarter. Detalus Advisors LLC grew its stake 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. Massmutual Trust Co. FSB ADV grew its stake in shares of Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 35 shares during the period. Finally, Tectonic Advisors LLC increased its holdings in Hubbell by 4.0% in the 1st quarter. Tectonic Advisors LLC now owns 946 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 36 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 1.1 %

Shares of Hubbell stock opened at $399.92 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 1.51 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The business has a 50-day moving average price of $374.97 and a 200-day moving average price of $386.03.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.07 EPS. Equities research analysts anticipate that Hubbell Incorporated will post 16.39 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.22%. Hubbell’s dividend payout ratio (DPR) is currently 36.39%.

Analyst Ratings Changes

HUBB has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Finally, Barclays lowered their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $402.57.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.