Gateway Investment Advisers LLC Grows Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Gateway Investment Advisers LLC grew its stake in Hubbell Incorporated (NYSE:HUBB) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,243 shares of the industrial products company’s stock after acquiring an additional 106 shares during the period. Gateway Investment Advisers LLC owned 0.08% of Hubbell worth $18,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Park Avenue Securities LLC increased its stake in shares of Hubbell by 20.7% during the fourth quarter. Park Avenue Securities LLC now owns 2,583 shares of the industrial products company’s stock valued at $1,082,000 after buying an additional 443 shares during the period. Kathmere Capital Management LLC grew its holdings in Hubbell by 14.9% during the 4th quarter. Kathmere Capital Management LLC now owns 602 shares of the industrial products company’s stock worth $252,000 after acquiring an additional 78 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in Hubbell by 13.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 861 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 104 shares during the period. Unique Wealth LLC bought a new stake in shares of Hubbell in the 4th quarter valued at about $209,000. Finally, Clean Yield Group boosted its stake in shares of Hubbell by 2.4% during the fourth quarter. Clean Yield Group now owns 8,363 shares of the industrial products company’s stock valued at $3,503,000 after purchasing an additional 196 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

NYSE HUBB opened at $433.80 on Friday. The stock’s fifty day moving average price is $443.15 and its 200 day moving average price is $416.47. Hubbell Incorporated has a 1 year low of $319.06 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.45 and a beta of 0.93.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share 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 for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $3.95 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.22%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. Hubbell’s payout ratio is presently 38.04%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays lifted their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Finally, Morgan Stanley lifted their price objective on shares of Hubbell from $407.00 to $445.00 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 four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $471.50.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated 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 in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

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.