Valeo Financial Advisors LLC Takes Position in Hubbell Incorporated (NYSE:HUBB)

Valeo Financial Advisors LLC bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 796 shares of the industrial products company’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds have also bought and sold shares of HUBB. Nvwm LLC bought a new position in shares of Hubbell in the first quarter worth $25,000. Riverview Trust Co bought a new position in Hubbell in the 1st quarter worth about $52,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell in the 1st quarter valued at about $56,000. Quarry LP bought a new stake in shares of Hubbell during the 2nd quarter valued at about $49,000. Finally, GAMMA Investing LLC grew its holdings in shares of Hubbell by 84.7% during the third 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. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Up 0.9 %

Shares of HUBB stock opened at $460.50 on Tuesday. The business has a 50-day moving average of $399.82 and a 200 day moving average of $391.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.75. The stock has a market capitalization of $24.72 billion, a PE ratio of 34.23, a P/E/G ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm posted $4.07 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Barclays lifted their price objective on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $423.13.

Insider Transactions at Hubbell

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

Hubbell Company 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.