Concurrent Investment Advisors LLC Grows Position in Hubbell Incorporated (NYSE:HUBB)

Concurrent Investment Advisors LLC grew its stake in Hubbell Incorporated (NYSE:HUBB) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,280 shares of the industrial products company’s stock after purchasing an additional 38 shares during the period. Concurrent Investment Advisors LLC’s holdings in Hubbell were worth $548,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quarry LP purchased a new stake in Hubbell in the 2nd quarter worth approximately $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the 3rd quarter worth approximately $58,000. Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell in the 2nd quarter worth approximately $62,000. Massmutual Trust Co. FSB ADV boosted its position in Hubbell by 23.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HUBB shares. Barclays increased their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho lifted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Performance

Shares of Hubbell stock opened at $467.93 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The business’s 50 day moving average price is $427.99 and its 200 day moving average price is $397.96. The company has a market cap of $25.11 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 1.76 and a beta of 0.90. Hubbell Incorporated has a one year low of $281.45 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company posted $3.95 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

About Hubbell

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.