J.W. Cole Advisors Inc. Makes New $340,000 Investment in Hubbell Incorporated (NYSE:HUBB)

J.W. Cole Advisors Inc. purchased a new position in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,035 shares of the industrial products company’s stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HUBB. HTLF Bank bought a new position in shares of Hubbell during the 4th quarter valued at approximately $987,000. Calamos Advisors LLC purchased a new stake in Hubbell in the fourth quarter worth $3,083,000. Xponance Inc. increased its stake in Hubbell by 0.4% in the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after purchasing an additional 36 shares during the period. Federated Hermes Inc. increased its stake in Hubbell by 126.5% in the fourth quarter. Federated Hermes Inc. now owns 21,101 shares of the industrial products company’s stock worth $6,941,000 after purchasing an additional 11,784 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in Hubbell by 13.6% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,022 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 122 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent analyst reports. Barclays increased their target price on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho raised their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Wells Fargo & Company raised their price target on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $383.57.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the sale, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the transaction, the chief executive officer now directly owns 51,783 shares in the company, valued at $18,286,130.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $352.99, for a total value of $5,268,375.75. Following the transaction, the chief financial officer now owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock valued at $12,065,100. 0.78% of the stock is currently owned by corporate insiders.

Hubbell Price Performance

Shares of HUBB stock opened at $398.55 on Thursday. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The stock’s 50-day moving average is $394.11 and its 200 day moving average is $341.52. The company has a market cap of $21.37 billion, a P/E ratio of 28.37, a PEG ratio of 2.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.60 earnings per share. Research analysts predict that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s dividend payout ratio is presently 34.73%.

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.