Coldstream Capital Management Inc. Increases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Coldstream Capital Management Inc. grew its stake in Hubbell Incorporated (NYSE:HUBB) by 2.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,313 shares of the industrial products company’s stock after buying an additional 83 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Hubbell were worth $1,211,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Nvwm LLC bought a new stake in shares of Hubbell in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Principal Securities Inc. purchased a new stake in Hubbell during the fourth quarter valued at about $40,000. Riverview Trust Co bought a new position in shares of Hubbell during the first quarter valued at about $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Hubbell in the first quarter worth about $56,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 3.3 %

HUBB stock opened at $392.87 on Thursday. The business has a 50 day moving average of $376.24 and a 200 day moving average of $386.99. The firm has a market cap of $21.09 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 1.40 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 company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion during 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% on a year-over-year basis. During the same period last year, the company earned $4.07 earnings per share. On average, research analysts forecast that Hubbell Incorporated will post 16.41 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. Investors of record on Friday, August 30th will be given a $1.22 dividend. The ex-dividend date is Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.24%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Analyst Upgrades and Downgrades

HUBB has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their target price for the company from $431.00 to $441.00 in a report on Friday, September 6th. Morgan Stanley started coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays dropped their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their target price on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and an average target price of $404.88.

Insider Buying and Selling at Hubbell

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