Clean Yield Group raised its position in shares of Hubbell Incorporated (NYSE:HUBB – Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,363 shares of the industrial products company’s stock after acquiring an additional 196 shares during the quarter. Clean Yield Group’s holdings in Hubbell were worth $3,503,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Prospera Private Wealth LLC acquired a new stake in Hubbell in the third quarter worth $33,000. Versant Capital Management Inc increased its position in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the third quarter worth approximately $41,000. Quarry LP bought a new stake in Hubbell during the 2nd quarter valued at $49,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Hubbell in the third quarter valued at $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Hubbell
In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s 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 completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.66% of the company’s stock.
Hubbell Stock Down 0.4 %
Hubbell (NYSE:HUBB – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.95 earnings per share. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.
Hubbell Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.26%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Mizuho lifted their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays raised their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $471.50.
Read Our Latest Stock Analysis on HUBB
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.
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