740 Shares in Hubbell Incorporated (NYSE:HUBB) Bought by Waddell & Associates LLC

Waddell & Associates LLC bought a new position in Hubbell Incorporated (NYSE:HUBB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 740 shares of the industrial products company’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell in the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the third quarter valued at about $41,000. Quarry LP bought a new position in shares of Hubbell during the second quarter valued at about $49,000. Northwest Investment Counselors LLC purchased a new position in shares of Hubbell in the third quarter worth about $58,000. Finally, GAMMA Investing LLC lifted its stake in shares of Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 72 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Price Performance

Shares of HUBB opened at $460.81 on Friday. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The firm’s 50-day simple moving average is $440.09 and its two-hundred day simple moving average is $401.71. The stock has a market cap of $24.73 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business posted $3.95 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal 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 paid a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. Hubbell’s payout ratio is presently 35.16%.

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 stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

HUBB has been the subject of several recent research reports. Mizuho boosted their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Barclays raised their price target on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Finally, Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

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.