Valley National Advisers Inc. lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,081 shares of the industrial products company’s stock after selling 88 shares during the period. Valley National Advisers Inc.’s holdings in Hubbell were worth $947,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its position in Hubbell by 14.5% during the 2nd quarter. Private Advisor Group LLC now owns 5,126 shares of the industrial products company’s stock valued at $915,000 after buying an additional 651 shares in the last quarter. Everhart Financial Group Inc. bought a new position in Hubbell during the 2nd quarter valued at approximately $212,000. West Oak Capital LLC increased its position in Hubbell by 279.0% during the 2nd quarter. West Oak Capital LLC now owns 10,498 shares of the industrial products company’s stock valued at $1,875,000 after buying an additional 7,728 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Hubbell by 0.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,711 shares of the industrial products company’s stock worth $1,377,000 after purchasing an additional 55 shares in the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings in shares of Hubbell by 2.3% in the 2nd quarter. Chesley Taft & Associates LLC now owns 4,475 shares of the industrial products company’s stock worth $799,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 88.91% of the company’s stock.
Hubbell Price Performance
Shares of Hubbell stock traded down $2.47 during trading hours on Friday, hitting $219.62. The company’s stock had a trading volume of 20,886 shares, compared to its average volume of 370,678. The business has a 50 day moving average price of $213.24 and a two-hundred day moving average price of $196.18. Hubbell Incorporated has a 12-month low of $170.21 and a 12-month high of $232.47. The company has a market cap of $11.78 billion, a PE ratio of 22.48, a PEG ratio of 2.32 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.31 and a current ratio of 2.03.
Hubbell Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $1.05 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $4.20 annualized dividend and a dividend yield of 1.91%. Hubbell’s dividend payout ratio (DPR) is 43.34%.
Insider Transactions at Hubbell
In other news, insider Allan Connolly sold 5,259 shares of Hubbell stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $221.48, for a total value of $1,164,763.32. Following the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at $1,417,472. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have commented on HUBB shares. JPMorgan Chase & Co. lifted their target price on Hubbell from $175.00 to $200.00 in a report on Thursday, July 28th. Wells Fargo & Company lifted their target price on Hubbell to $196.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. StockNews.com raised Hubbell from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Morgan Stanley lifted their target price on Hubbell from $190.00 to $206.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 27th.
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.
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