Ashton Thomas Private Wealth LLC Purchases New Shares in Hubbell Incorporated (NYSE:HUBB)

Ashton Thomas Private Wealth LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 170 shares of the industrial products company’s stock, valued at approximately $62,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Hubbell by 15.9% in the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after buying an additional 918,808 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after acquiring an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after acquiring an additional 286,134 shares during the period. FIL Ltd increased its stake in shares of Hubbell by 0.6% during the 4th quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock worth $366,925,000 after purchasing an additional 6,526 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after purchasing an additional 322,728 shares during the period. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HUBB. Morgan Stanley began coverage on Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Barclays lowered their price target on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens restated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $404.63 on Monday. The stock’s 50-day moving average is $377.87 and its 200 day moving average is $387.61. The stock has a market cap of $21.72 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 1.44 and a beta of 0.90. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.07 EPS. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at $608,781.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.