Fairscale Capital LLC Invests $114,000 in Hubbell Incorporated (NYSE:HUBB)

Fairscale Capital LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 292 shares of the industrial products company’s stock, valued at approximately $114,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nvwm LLC acquired a new position in shares of Hubbell in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares during the period. Principal Securities Inc. bought a new stake in Hubbell during the fourth quarter valued at $40,000. Riverview Trust Co acquired a new stake in Hubbell during the 1st quarter worth about $52,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Hubbell in the 1st quarter worth about $56,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

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

Analyst Upgrades and Downgrades

HUBB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and upped their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company increased their price target on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Barclays lowered their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Finally, Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $404.88.

Hubbell Price Performance

Shares of NYSE HUBB opened at $426.01 on Friday. The stock has a market cap of $22.87 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 1.44 and a beta of 0.90. 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 Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The firm’s 50-day simple moving average is $381.79 and its 200 day simple moving average is $388.71.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company earned $4.07 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.15%. Hubbell’s dividend payout ratio is currently 36.39%.

About Hubbell

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.