Tradition Wealth Management LLC Has $282,000 Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Tradition Wealth Management LLC reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 658 shares of the industrial products company’s stock after selling 51 shares during the period. Tradition Wealth Management LLC’s holdings in Hubbell were worth $282,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. OLD National Bancorp IN grew its holdings in shares of Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after buying an additional 22 shares in the last quarter. CWM LLC raised its holdings in shares of Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 28 shares during the last quarter. Avestar Capital LLC lifted its position in shares of Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 28 shares in the last quarter. Detalus Advisors LLC boosted its holdings in Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 30 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays increased their price objective on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Mizuho upped their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $449.11.

Hubbell Stock Performance

NYSE HUBB opened at $457.17 on Tuesday. Hubbell Incorporated has a 52-week low of $295.90 and a 52-week high of $481.35. The stock has a market cap of $24.54 billion, a PE ratio of 32.94, a P/E/G ratio of 1.71 and a beta of 0.90. The firm has a 50-day moving average of $446.29 and a 200-day moving average of $404.74. 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 earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.95 earnings per share. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current 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 $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is presently 35.16%.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

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.