Golden State Wealth Management LLC Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Golden State Wealth Management LLC purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, Holdings Channel.com reports. The firm purchased 165 shares of the industrial products company’s stock, valued at approximately $69,000.

Other institutional investors have also modified their holdings of the company. OLD National Bancorp IN boosted its stake in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 22 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Hubbell by 12.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 25 shares during the period. JGP Wealth Management LLC grew its stake in Hubbell by 1.2% during the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after buying an additional 26 shares during the last quarter. Avestar Capital LLC grew its stake in Hubbell by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after buying an additional 28 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after buying an additional 30 shares during the period. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho upped their price target 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. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Barclays lifted their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and cut their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell has an average rating of “Hold” and an average price target of $471.50.

Hubbell Stock Down 0.2 %

Shares of Hubbell stock opened at $399.94 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The stock has a 50-day moving average price of $433.34 and a 200 day moving average price of $422.91. The company has a market cap of $21.47 billion, a P/E ratio of 27.85, a P/E/G ratio of 1.36 and a beta of 0.92.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $3.69 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

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.