Hubbell Incorporated (NYSE:HUBB) is Valley Wealth Managers Inc.’s 7th Largest Position

Valley Wealth Managers Inc. cut its stake in Hubbell Incorporated (NYSE:HUBB) by 0.8% in the third quarter, Holdings Channel.com reports. The fund owned 58,156 shares of the industrial products company’s stock after selling 455 shares during the quarter. Hubbell comprises about 1.8% of Valley Wealth Managers Inc.’s portfolio, making the stock its 7th largest holding. Valley Wealth Managers Inc.’s holdings in Hubbell were worth $24,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the third quarter worth about $41,000. Quarry LP purchased a new stake in Hubbell during the second quarter worth about $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the third quarter worth about $58,000. Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell during the second quarter worth about $62,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after buying an additional 35 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

Hubbell Trading Up 1.0 %

Shares of Hubbell stock traded up $4.36 during trading hours on Friday, hitting $444.45. The company’s stock had a trading volume of 19,072 shares, compared to its average volume of 442,342. Hubbell Incorporated has a 1-year low of $287.06 and a 1-year high of $481.35. The business has a fifty day moving average of $432.35 and a 200 day moving average of $399.10. The company has a market capitalization of $23.85 billion, a PE ratio of 31.71, a P/E/G ratio of 1.69 and a beta of 0.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

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 13.33% and a return on equity of 28.81%. 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 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.19%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analyst Weigh In

A number of research firms 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 report on Thursday, October 10th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. Morgan Stanley upped their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their price objective on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Company 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.