Adero Partners LLC Takes Position in Hubbell Incorporated (NYSE:HUBB)

Adero Partners LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 547 shares of the industrial products company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the third quarter worth $41,000. Quarry LP bought a new stake in shares of Hubbell in the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell in the third quarter valued at about $58,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell during the second quarter worth about $62,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Hubbell Trading Down 0.6 %

Shares of Hubbell stock opened at $437.61 on Monday. The stock has a market capitalization of $23.49 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $287.06 and a 52 week high of $481.35. The stock has a 50 day moving average price of $435.08 and a two-hundred day moving average price of $399.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (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 business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $3.95 EPS. Hubbell’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. Hubbell’s payout ratio is presently 38.04%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HUBB. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell 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.