Private Advisor Group LLC Purchases 508 Shares of Hubbell Incorporated (NYSE:HUBB)

Private Advisor Group LLC grew its position in Hubbell Incorporated (NYSE:HUBB) by 10.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,196 shares of the industrial products company’s stock after acquiring an additional 508 shares during the quarter. Private Advisor Group LLC’s holdings in Hubbell were worth $2,226,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HUBB. OLD National Bancorp IN lifted its position in shares of Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after buying an additional 22 shares during the period. CWM LLC lifted its position in shares of Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after buying an additional 28 shares during the period. Meeder Advisory Services Inc. lifted its position in shares of Hubbell by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after buying an additional 30 shares during the period. Detalus Advisors LLC lifted its position in shares of Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after buying an additional 30 shares during the period. Finally, Savant Capital LLC lifted its position in shares of Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after buying an additional 31 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 2.1 %

NYSE HUBB opened at $440.12 on Wednesday. The stock has a fifty day moving average of $417.43 and a 200-day moving average of $394.88. The stock has a market capitalization of $23.63 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $461.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $4.07 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. Hubbell’s payout ratio is 36.39%.

Wall Street Analyst Weigh In

Several research firms recently commented on HUBB. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and raised their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Barclays lifted their price objective on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Mizuho lifted their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $428.13.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

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.