HM Payson & Co. Increases Stock Position in Hubbell Incorporated (NYSE:HUBB)

HM Payson & Co. raised its holdings in Hubbell Incorporated (NYSE:HUBB) by 88.2% during the 3rd quarter, Holdings Channel reports. The firm owned 142,512 shares of the industrial products company’s stock after purchasing an additional 66,797 shares during the quarter. HM Payson & Co.’s holdings in Hubbell were worth $61,045,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of HUBB. Nordea Investment Management AB lifted its stake in shares of Hubbell by 4.1% during the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after buying an additional 6,275 shares during the period. IFG Advisory LLC purchased a new position in shares of Hubbell during the second quarter valued at approximately $475,000. Sustainable Insight Capital Management LLC purchased a new position in shares of Hubbell during the first quarter valued at approximately $1,868,000. Acadian Asset Management LLC lifted its stake in shares of Hubbell by 51.3% during the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after buying an additional 1,252 shares during the period. Finally, Great Valley Advisor Group Inc. lifted its stake in shares of Hubbell by 24.6% during the second quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after buying an additional 1,359 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Hubbell Trading Down 0.6 %

Shares of Hubbell stock traded down $2.43 during trading hours on Thursday, hitting $429.23. The company’s stock had a trading volume of 43,711 shares, compared to its average volume of 440,571. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.77. The business has a fifty day moving average of $419.94 and a 200 day moving average of $395.41. The company has a market capitalization of $23.04 billion, a PE ratio of 32.19, a P/E/G ratio of 1.66 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business earned $3.95 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.23%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 36.39%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Barclays upped their price target on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, 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. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $434.38.

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.