Wealth Enhancement Advisory Services LLC increased its holdings in Hubbell Incorporated (NYSE:HUBB – Free Report) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 5,435 shares of the industrial products company’s stock after purchasing an additional 61 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Hubbell were worth $2,328,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Douglas Lane & Associates LLC grew its holdings in shares of Hubbell by 158.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,690 shares of the industrial products company’s stock valued at $1,127,000 after acquiring an additional 1,650 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Hubbell by 1.7% during the fourth quarter. Fulton Bank N.A. now owns 2,796 shares of the industrial products company’s stock valued at $1,171,000 after acquiring an additional 48 shares during the period. Insight Wealth Strategies LLC grew its holdings in Hubbell by 3.3% in the 4th quarter. Insight Wealth Strategies LLC now owns 10,202 shares of the industrial products company’s stock valued at $4,273,000 after buying an additional 330 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Hubbell by 29.6% in the fourth quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock worth $67,503,000 after acquiring an additional 36,643 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Hubbell during the 4th quarter worth about $427,000. 88.16% of the stock is owned by institutional investors and hedge funds.
Hubbell Price Performance
Shares of NYSE HUBB opened at $426.73 on Wednesday. The company has a fifty day moving average price of $444.69 and a 200 day moving average price of $416.27. Hubbell Incorporated has a 1-year low of $319.06 and a 1-year high of $481.35. The firm has a market cap of $22.90 billion, a PE ratio of 30.74, a PEG ratio of 1.69 and a beta of 0.93. 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 Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were 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 was Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.24%. Hubbell’s dividend payout ratio is presently 38.04%.
Insider Buying and Selling at Hubbell
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 stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.66% of the company’s stock.
Wall Street Analyst Weigh In
HUBB has been the subject of several research reports. Barclays raised their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Mizuho increased their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $471.50.
Check Out Our Latest Report on Hubbell
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.
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