Hubbell Incorporated (NYSE:HUBB) Stock Holdings Increased by Avestar Capital LLC

Avestar Capital LLC increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 5.1% during the third quarter, Holdings Channel reports. The firm owned 577 shares of the industrial products company’s stock after purchasing an additional 28 shares during the period. Avestar Capital LLC’s holdings in Hubbell were worth $247,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in HUBB. Lazard Asset Management LLC increased its stake in Hubbell by 85.3% in the 1st quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock valued at $739,000 after buying an additional 820 shares during the period. Janus Henderson Group PLC raised its stake in Hubbell by 6.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock valued at $2,731,000 after purchasing an additional 403 shares during the last quarter. Tidal Investments LLC raised its stake in Hubbell by 499.3% during the 1st quarter. Tidal Investments LLC now owns 4,992 shares of the industrial products company’s stock valued at $2,072,000 after purchasing an additional 4,159 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Hubbell during the 1st quarter valued at $552,000. Finally, Wahed Invest LLC raised its stake in Hubbell by 14.8% during the 1st quarter. Wahed Invest LLC now owns 1,049 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is owned by corporate insiders.

Hubbell Trading Down 0.4 %

HUBB opened at $458.81 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $24.62 billion, a PE ratio of 33.06, a PEG ratio of 1.73 and a beta of 0.90. Hubbell Incorporated has a 1-year low of $293.91 and a 1-year high of $481.35. The firm has a 50-day moving average price of $444.28 and a two-hundred day moving average price of $403.47.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.95 EPS. As a group, equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal 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 given 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 annualized dividend and a dividend yield of 1.15%. Hubbell’s payout ratio is currently 35.16%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HUBB. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the stock from $493.00 to $473.00 in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $449.11.

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.