Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. boosted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 0.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 139,754 shares of the industrial products company’s stock after acquiring an additional 351 shares during the period. Bahl & Gaynor Inc.’s holdings in Hubbell were worth $51,077,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nvwm LLC purchased a new stake in shares of Hubbell during the 1st quarter worth $25,000. EverSource Wealth Advisors LLC raised its stake 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 in the last quarter. Principal Securities Inc. purchased a new stake in Hubbell during the 4th quarter worth about $40,000. Riverview Trust Co purchased a new position in shares of Hubbell in the 1st quarter valued at about $52,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the 1st quarter worth about $56,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 in the company, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Up 0.5 %

NYSE HUBB opened at $380.16 on Wednesday. The firm’s fifty day moving average is $376.24 and its two-hundred day moving average is $386.99. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The firm has a market cap of $20.41 billion, a PE ratio of 28.35, a P/E/G ratio of 1.40 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.07 EPS. Analysts expect that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HUBB. Barclays lowered their price target on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Morgan Stanley initiated coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target on the stock. Stephens restated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $404.88.

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.