Icon Wealth Advisors LLC raised its position in Hubbell Incorporated (NYSE:HUBB – Free Report) by 553.1% during the third quarter, Holdings Channel reports. The firm owned 2,129 shares of the industrial products company’s stock after buying an additional 1,803 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Hubbell were worth $912,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell in the 3rd quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the 3rd quarter valued at about $41,000. Quarry LP acquired a new stake in shares of Hubbell during the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the third quarter worth approximately $58,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Hubbell in the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on HUBB shares. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and raised their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Finally, Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $445.56.
Insiders Place Their Bets
In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by company insiders.
Hubbell Stock Performance
NYSE:HUBB opened at $460.81 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The firm’s fifty day simple moving average is $440.09 and its 200-day simple moving average is $401.71. The stock has a market cap of $24.73 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.
Hubbell (NYSE:HUBB – Get Free Report) last issued its 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business posted $3.95 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.
Hubbell Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued 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 annualized dividend and a yield of 1.15%. Hubbell’s payout ratio is currently 35.16%.
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.
Featured Stories
- Five stocks we like better than Hubbell
- What is the FTSE 100 index?
- Tesla Investors Continue to Profit From the Trump Trade
- Health Care Stocks Explained: Why You Might Want to Invest
- MicroStrategy’s Stock Dip vs. Coinbase’s Potential Rally
- What Does Downgrade Mean in Investing?
- Netflix Ventures Into Live Sports, Driving Stock Momentum
Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBB – Free Report).
Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.