DAVENPORT & Co LLC Raises Holdings in Hubbell Incorporated (NYSE:HUBB)

DAVENPORT & Co LLC boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 8.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,269 shares of the industrial products company’s stock after purchasing an additional 104 shares during the quarter. DAVENPORT & Co LLC’s holdings in Hubbell were worth $532,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in shares of Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc increased its holdings in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the 3rd quarter valued at about $41,000. Northwest Investment Counselors LLC purchased a new position in shares of Hubbell in the 3rd quarter valued at about $58,000. Finally, GAMMA Investing LLC increased its holdings in shares of Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 1.5 %

Hubbell stock opened at $401.04 on Friday. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The stock has a 50 day moving average of $434.52 and a two-hundred day moving average of $422.00. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 1.45 and a beta of 0.92.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $3.69 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, research analysts expect that Hubbell Incorporated will post 16.48 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.32%. Hubbell’s payout ratio is 38.04%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Morgan Stanley upped their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Barclays upped their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $471.50.

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.