Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB – Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,435 shares of the industrial products company’s stock after purchasing an additional 61 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Hubbell were worth $2,328,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. LGT Capital Partners LTD. bought a new stake in shares of Hubbell in the third quarter worth $39,687,000. Principal Financial Group Inc. grew its holdings in Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after acquiring an additional 15,215 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after acquiring an additional 279,654 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Hubbell in the 3rd quarter valued at about $757,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Hubbell during the second quarter worth about $2,915,000. 88.16% of the stock is owned by institutional investors and hedge funds.
Hubbell Stock Up 1.5 %
Hubbell stock opened at $426.73 on Wednesday. The firm has a market capitalization of $22.90 billion, a P/E ratio of 30.74, a P/E/G ratio of 1.69 and a beta of 0.93. The company has a 50-day simple moving average of $444.69 and a 200-day simple moving average of $416.27. Hubbell Incorporated has a one year low of $319.06 and a one year 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 Increases Dividend
The firm also recently announced 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. The ex-dividend date was Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.24%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is presently 38.04%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on HUBB. Mizuho boosted their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Finally, Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and an average price target of $471.50.
Check Out Our Latest Stock Report on HUBB
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 transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by 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.
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