Northwest Investment Counselors LLC Purchases New Stake in Hubbell Incorporated (NYSE:HUBB)

Northwest Investment Counselors LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 135 shares of the industrial products company’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HUBB. Impax Asset Management Group plc boosted its holdings in shares of Hubbell by 53.8% during the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after buying an additional 322,728 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares during the last quarter. Ceredex Value Advisors LLC increased its stake in shares of Hubbell by 60.9% during the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock worth $74,821,000 after purchasing an additional 77,500 shares during the period. Finally, Covea Finance lifted its holdings in Hubbell by 187.5% during the 3rd quarter. Covea Finance now owns 99,200 shares of the industrial products company’s stock worth $42,492,000 after purchasing an additional 64,700 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Hubbell Stock Performance

NYSE:HUBB opened at $456.81 on Tuesday. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $461.77. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $410.39 and its 200 day simple moving average is $393.60. The firm has a market capitalization of $24.52 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

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

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.07%. Hubbell’s dividend payout ratio is presently 36.39%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho increased their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and increased their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company lifted their price target on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $428.13.

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.