Ashton Thomas Securities LLC Acquires Shares of 95 Hubbell Incorporated (NYSE:HUBB)

Ashton Thomas Securities LLC bought a new stake in Hubbell Incorporated (NYSE:HUBB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 95 shares of the industrial products company’s stock, valued at approximately $41,000.

A number of other institutional investors have also recently made changes to their positions in HUBB. Quarry LP bought a new stake in shares of Hubbell during the 2nd quarter valued at $49,000. Northwest Investment Counselors LLC bought a new stake in shares of Hubbell during the third quarter valued at about $58,000. GAMMA Investing LLC lifted its holdings in shares of Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after buying an additional 72 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell in the second quarter valued at approximately $62,000. Finally, Tobam purchased a new position in Hubbell during the third quarter valued at approximately $78,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HUBB. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company raised their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Up 0.4 %

Shares of NYSE HUBB opened at $453.79 on Thursday. The firm has a fifty day simple moving average of $432.35 and a two-hundred day simple moving average of $399.10. The firm has a market capitalization of $24.36 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 12 month low of $287.06 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.95 earnings per share. Equities analysts expect that Hubbell Incorporated will post 16.47 earnings per share 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. This is a boost from Hubbell’s previous quarterly dividend of $1.22. 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 1.16%. Hubbell’s dividend payout ratio is presently 38.04%.

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.