Mount Yale Investment Advisors LLC Raises Position in Hubbell Incorporated (NYSE:HUBB)

Mount Yale Investment Advisors LLC raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 703 shares of the industrial products company’s stock after acquiring an additional 64 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Hubbell were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Nvwm LLC bought a new stake in Hubbell in the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 74 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares during the last quarter. Baillie Gifford & Co. bought a new stake in shares of Hubbell in the 4th quarter worth about $33,000. Finally, Principal Securities Inc. bought a new stake in shares of Hubbell in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE HUBB traded down $0.20 during mid-day trading on Monday, reaching $366.89. The company’s stock had a trading volume of 514,111 shares, compared to its average volume of 461,676. The stock has a 50-day moving average of $379.20 and a two-hundred day moving average of $379.34. The stock has a market capitalization of $19.70 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.36 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.61 earnings per share. On average, equities research analysts anticipate that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, August 30th. Hubbell’s payout ratio is currently 36.39%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the sale, the insider now directly owns 3,436 shares in the company, valued at $1,379,004.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the transaction, the insider now owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Neal J. Keating acquired 500 shares of the stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the purchase, the director now owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 3,055 shares of company stock worth $1,232,139. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HUBB. Barclays dropped their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

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.