Private Advisor Group LLC Has $2.23 Million Position in Hubbell Incorporated (NYSE:HUBB)

Private Advisor Group LLC lifted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,196 shares of the industrial products company’s stock after buying an additional 508 shares during the period. Private Advisor Group LLC’s holdings in Hubbell were worth $2,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nvwm LLC acquired a new position in shares of Hubbell during the first quarter worth about $25,000. Quarry LP acquired a new position in shares of Hubbell during the second quarter worth about $49,000. Northwest Investment Counselors LLC acquired a new position in Hubbell during the third quarter valued at approximately $58,000. GAMMA Investing LLC boosted its position in Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 72 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Hubbell during the second quarter valued at approximately $62,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the 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 transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction 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 transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hubbell Price Performance

Shares of NYSE HUBB opened at $440.12 on Wednesday. The firm has a market cap of $23.63 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.77. The business’s 50 day moving average is $417.43 and its 200-day moving average is $394.88.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.07 earnings per share. Equities research analysts predict that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Analyst Ratings Changes

Several research analysts recently commented on HUBB shares. Barclays increased their price target on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Mizuho increased their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $428.13.

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.