Deroy & Devereaux Private Investment Counsel Inc. Takes Position in Hubbell Incorporated (NYSE:HUBB)

Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the third quarter, HoldingsChannel reports. The fund bought 500 shares of the industrial products company’s stock, valued at approximately $214,000.

Other large investors have also recently bought and sold shares of the company. Nvwm LLC acquired a new position in shares of Hubbell during the 1st quarter worth about $25,000. Quarry LP purchased a new stake in Hubbell during the second quarter worth approximately $49,000. Northwest Investment Counselors LLC acquired a new position in Hubbell in the third quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC purchased a new position in Hubbell in the second quarter valued at approximately $62,000. Finally, Massmutual Trust Co. FSB ADV raised 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 purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This trade 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. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HUBB has been the subject of several research analyst reports. Barclays upped their target price on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $434.38.

Hubbell Trading Down 1.1 %

NYSE:HUBB opened at $426.76 on Friday. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $461.77. The company has a current ratio of 1.66, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $419.94 and its 200-day simple moving average is $395.41. The firm has a market cap of $22.91 billion, a P/E ratio of 30.75, a PEG ratio of 1.60 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.95 EPS. Equities analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 35.16%.

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.