Kathmere Capital Management LLC Boosts Holdings in Hubbell Incorporated (NYSE:HUBB)

Kathmere Capital Management LLC boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 602 shares of the industrial products company’s stock after buying an additional 78 shares during the quarter. Kathmere Capital Management LLC’s holdings in Hubbell were worth $252,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Mizuho Securities USA LLC grew its position in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after acquiring an additional 7,975,855 shares during the period. State Street Corp lifted its position in Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after purchasing an additional 22,507 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA increased its position in Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after buying an additional 82,258 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Hubbell by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after buying an additional 8,278 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

HUBB has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Hubbell presently has an average rating of “Hold” and a consensus target price of $471.50.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $433.80 on Friday. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.45 and a beta of 0.93. The firm has a fifty day moving average price of $443.15 and a 200 day moving average price of $416.47. Hubbell Incorporated has a fifty-two week low of $319.06 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.95 EPS. As a group, sell-side analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

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.