JGP Wealth Management LLC Boosts Holdings in Hubbell Incorporated (NYSE:HUBB)

JGP Wealth Management LLC raised its position in Hubbell Incorporated (NYSE:HUBB) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,084 shares of the industrial products company’s stock after acquiring an additional 154 shares during the quarter. JGP Wealth Management LLC’s holdings in Hubbell were worth $893,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Tobam purchased a new position in shares of Hubbell during the 3rd quarter worth about $78,000. Cadinha & Co. LLC grew its position in Hubbell by 74.6% in the 3rd quarter. Cadinha & Co. LLC now owns 45,658 shares of the industrial products company’s stock valued at $19,558,000 after buying an additional 19,515 shares in the last quarter. Insight Wealth Strategies LLC acquired a new position in shares of Hubbell in the third quarter worth about $4,229,000. Clean Yield Group lifted its position in shares of Hubbell by 103.1% in the third quarter. Clean Yield Group now owns 8,167 shares of the industrial products company’s stock worth $3,498,000 after purchasing an additional 4,146 shares in the last quarter. Finally, Security National Bank raised its position in Hubbell by 12.1% during the third quarter. Security National Bank now owns 6,732 shares of the industrial products company’s stock valued at $2,884,000 after acquiring an additional 728 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 2.1 %

Shares of Hubbell stock traded up $9.27 during midday trading on Friday, reaching $452.72. The company had a trading volume of 85,662 shares, compared to its average volume of 446,264. The stock has a fifty day moving average price of $398.01 and a 200 day moving average price of $391.93. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $453.72. The firm has a market cap of $24.30 billion, a PE ratio of 32.78, a P/E/G ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.07 EPS. On average, equities analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.08%. Hubbell’s payout ratio is 36.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. 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 research note on Friday, September 6th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $385.00 to $454.00 in a research report on Thursday. Morgan Stanley started coverage on Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Barclays boosted their target price on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $423.13.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The stock was 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 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 other news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at $608,781.80. This represents 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.

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.