Clean Yield Group Purchases 4,146 Shares of Hubbell Incorporated (NYSE:HUBB)

Clean Yield Group raised its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 103.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,167 shares of the industrial products company’s stock after acquiring an additional 4,146 shares during the period. Clean Yield Group’s holdings in Hubbell were worth $3,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. Nordea Investment Management AB lifted its position in Hubbell by 4.1% during the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after purchasing an additional 6,275 shares during the last quarter. IFG Advisory LLC bought a new stake in shares of Hubbell in the 2nd quarter valued at about $475,000. Point72 Asset Management L.P. lifted its stake in shares of Hubbell by 4,414.0% during the 4th quarter. Point72 Asset Management L.P. now owns 242,855 shares of the industrial products company’s stock worth $79,882,000 after purchasing an additional 237,475 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Hubbell by 81.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock worth $22,565,000 after buying an additional 24,321 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its position in shares of Hubbell by 304.6% during the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock worth $4,685,000 after purchasing an additional 8,497 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HUBB. Morgan Stanley assumed coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the company from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Stephens restated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $414.50.

Insider Activity

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the 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 sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gerben Bakker sold 15,677 shares of the firm’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 transaction, 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 SEC, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the company’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 completion of the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hubbell Trading Up 2.0 %

Shares of Hubbell stock opened at $438.50 on Tuesday. The stock has a market cap of $23.54 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $439.16. The company has a 50-day moving average of $394.44 and a two-hundred day moving average of $391.00.

Hubbell (NYSE:HUBB) last announced its earnings results 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. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. Hubbell’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.07 earnings per share. On average, research analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.11%. Hubbell’s payout ratio is currently 36.39%.

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.