BSW Wealth Partners Invests $210,000 in Hubbell Incorporated (NYSE:HUBB)

BSW Wealth Partners bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 490 shares of the industrial products company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after purchasing an additional 286,134 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock valued at $487,995,000 after purchasing an additional 46,813 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after purchasing an additional 322,728 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $424.92 on Tuesday. The firm has a market capitalization of $22.81 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.66. The stock’s fifty day moving average is $422.50 and its 200-day moving average is $396.04. Hubbell Incorporated has a one year low of $274.42 and a one year high of $461.77.

Hubbell (NYSE:HUBB) last announced 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 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company posted $3.95 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Hubbell Incorporated will post 16.46 EPS for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is 35.16%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HUBB. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley upped their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Wells Fargo & Company increased their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $434.38.

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.