Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,288 shares of the industrial products company’s stock after buying an additional 31 shares during the period. Kingsview Wealth Management LLC’s holdings in Hubbell were worth $1,408,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HUBB. Cerity Partners LLC raised its stake in shares of Hubbell by 54.1% in the 3rd quarter. Cerity Partners LLC now owns 9,326 shares of the industrial products company’s stock valued at $3,995,000 after acquiring an additional 3,273 shares during the period. Great Valley Advisor Group Inc. increased its holdings in Hubbell by 51.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,379 shares of the industrial products company’s stock valued at $4,445,000 after purchasing an additional 3,506 shares in the last quarter. Waddell & Associates LLC purchased a new position in Hubbell in the third quarter valued at about $317,000. Nwam LLC purchased a new position in Hubbell in the third quarter valued at about $318,000. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Hubbell by 553.1% during the third quarter. Icon Wealth Advisors LLC now owns 2,129 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 1,803 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HUBB shares. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price target for the stock from $493.00 to $473.00 in a research note on Tuesday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus target price of $449.11.

Hubbell Trading Down 0.7 %

Shares of NYSE:HUBB opened at $460.55 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $443.30 and its 200 day moving average price is $403.08. The company has a market cap of $24.72 billion, a PE ratio of 33.18, a P/E/G ratio of 1.71 and a beta of 0.90. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company 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 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. Hubbell’s dividend payout ratio is presently 38.04%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.