Vestor Capital LLC Grows Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Vestor Capital LLC lifted its stake in Hubbell Incorporated (NYSE:HUBB) by 100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,126 shares of the industrial products company’s stock after purchasing an additional 2,063 shares during the quarter. Vestor Capital LLC’s holdings in Hubbell were worth $1,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. BSW Wealth Partners purchased a new stake in shares of Hubbell in the third quarter worth $210,000. Van ECK Associates Corp boosted its stake in Hubbell by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 9,741 shares of the industrial products company’s stock worth $4,332,000 after purchasing an additional 966 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Hubbell by 5.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 12,917 shares of the industrial products company’s stock valued at $5,533,000 after purchasing an additional 640 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in Hubbell by 9.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 817 shares of the industrial products company’s stock valued at $350,000 after purchasing an additional 69 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in Hubbell by 19.7% in the third quarter. Stephens Inc. AR now owns 1,663 shares of the industrial products company’s stock worth $712,000 after buying an additional 274 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $425.70 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $22.85 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90. The firm’s 50 day moving average price is $421.70 and its 200-day moving average price is $395.81. Hubbell Incorporated has a twelve month low of $274.42 and a twelve month high of $461.77.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $3.95 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Hubbell Incorporated will post 16.46 EPS for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 35.16%.

Insiders Place Their Bets

In related news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on 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 owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HUBB. Mizuho increased their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Wells Fargo & Company boosted their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Barclays boosted their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.38.

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.