Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,202 shares of the industrial products company’s stock after purchasing an additional 330 shares during the period. Insight Wealth Strategies LLC’s holdings in Hubbell were worth $4,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new position in shares of Hubbell during the 3rd quarter worth about $33,000. Versant Capital Management Inc raised its holdings in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the third quarter valued at approximately $41,000. Quarry LP purchased a new position in shares of Hubbell in the second quarter valued at approximately $49,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell during the third quarter worth approximately $58,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The stock was 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. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on HUBB. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $472.13.

Hubbell Trading Up 1.7 %

Shares of Hubbell stock traded up $7.31 during mid-day trading on Monday, hitting $438.27. The stock had a trading volume of 197,343 shares, compared to its average volume of 260,489. The firm has a market cap of $23.52 billion, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. 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 firm has a 50-day moving average of $445.25 and a two-hundred day moving average of $413.35. Hubbell Incorporated has a 12-month low of $317.32 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business posted $3.95 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $1.32 dividend. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.20%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 38.04%.

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.