Janney Montgomery Scott LLC Increases Stake in Hubbell Incorporated (NYSE:HUBB)

Janney Montgomery Scott LLC grew its position in Hubbell Incorporated (NYSE:HUBB) by 5.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,917 shares of the industrial products company’s stock after buying an additional 640 shares during the period. Janney Montgomery Scott LLC’s holdings in Hubbell were worth $5,533,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. OLD National Bancorp IN increased its holdings in Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after buying an additional 22 shares in the last quarter. CWM LLC increased its holdings in shares of Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after buying an additional 28 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in Hubbell by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 30 shares during the last quarter. Detalus Advisors LLC lifted its holdings in shares of Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the subject of several analyst reports. Stephens reiterated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley boosted 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, October 30th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and increased their price objective for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, Mizuho upped their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Price Performance

Shares of HUBB stock opened at $467.94 on Friday. The firm’s 50-day moving average is $427.99 and its two-hundred day moving average is $397.96. Hubbell Incorporated has a 12 month low of $281.45 and a 12 month high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a market capitalization of $25.12 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company earned $3.95 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.13%. Hubbell’s payout ratio is presently 35.16%.

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.