Hubbell Incorporated (NYSE:HUBB) Stake Increased by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 51.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,379 shares of the industrial products company’s stock after buying an additional 3,506 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Hubbell were worth $4,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in Hubbell during the 3rd quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new position in Hubbell in the 3rd quarter valued at approximately $41,000. Quarry LP acquired a new stake in Hubbell during the second quarter valued at $49,000. Northwest Investment Counselors LLC bought a new stake in shares of Hubbell in the 3rd quarter valued at approximately $58,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell during the 2nd quarter valued at $62,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Up 0.9 %

Shares of HUBB opened at $460.81 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market cap of $24.73 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 1.70 and a beta of 0.90. The stock has a fifty day moving average price of $441.22 and a two-hundred day moving average price of $402.22. Hubbell Incorporated has a 52-week low of $293.91 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous 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 predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is 35.16%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HUBB shares. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Finally, Wells Fargo & Company upped their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $445.56.

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.