Private Advisor Group LLC Increases Holdings in Hubbell Incorporated (NYSE:HUBB)

Private Advisor Group LLC lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 89.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,688 shares of the industrial products company’s stock after purchasing an additional 2,207 shares during the quarter. Private Advisor Group LLC’s holdings in Hubbell were worth $1,713,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its position in shares of Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after buying an additional 28 shares during the period. Meeder Advisory Services Inc. grew 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 valued at $339,000 after acquiring an additional 30 shares in the last quarter. Detalus Advisors LLC increased its holdings in Hubbell by 3.0% during 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 period. Massmutual Trust Co. FSB ADV lifted its stake in Hubbell by 23.5% in the 2nd 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. Finally, Tectonic Advisors LLC boosted its holdings in Hubbell by 4.0% in the 1st quarter. Tectonic Advisors LLC now owns 946 shares of the industrial products company’s stock valued at $393,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gerben Bakker sold 15,677 shares of the firm’s 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 $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Trading Up 1.4 %

Shares of HUBB opened at $404.63 on Friday. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.44 and a beta of 0.90. The firm has a 50 day moving average price of $377.87 and a 200-day moving average price of $387.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $4.07 EPS. Hubbell’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $1.22 per share. The ex-dividend date is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.21%. Hubbell’s dividend payout ratio is currently 36.39%.

Analyst Ratings Changes

A number of brokerages recently issued reports on HUBB. Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective on the stock. Wells Fargo & Company raised their price target on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Stephens restated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Finally, Barclays dropped their target price on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and a consensus price target of $404.88.

Hubbell Company 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.