TruWealth Advisors LLC Purchases 36 Shares of Hubbell Incorporated (NYSE:HUBB)

TruWealth Advisors LLC increased its position in Hubbell Incorporated (NYSE:HUBB) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 916 shares of the industrial products company’s stock after buying an additional 36 shares during the quarter. TruWealth Advisors LLC’s holdings in Hubbell were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. Envestnet Asset Management Inc. raised its stake in shares of Hubbell by 7.8% during the second quarter. Envestnet Asset Management Inc. now owns 69,492 shares of the industrial products company’s stock valued at $25,398,000 after acquiring an additional 5,037 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Hubbell by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock valued at $137,622,000 after purchasing an additional 22,951 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Hubbell by 2.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,578 shares of the industrial products company’s stock valued at $4,232,000 after purchasing an additional 297 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Hubbell in the 2nd quarter worth approximately $2,915,000. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Hubbell by 0.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 11,194 shares of the industrial products company’s stock worth $4,091,000 after buying an additional 100 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Price Performance

Shares of NYSE HUBB opened at $437.52 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a 50 day simple moving average of $442.54 and a two-hundred day simple moving average of $417.38. Hubbell Incorporated has a fifty-two week low of $322.27 and a fifty-two week high of $481.35. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 1.45 and a beta of 0.93.

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

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $1.32 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s 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 of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HUBB. Barclays raised their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. 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, November 26th. Mizuho boosted their price target 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. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Hold” and an average price target of $471.50.

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.