Unique Wealth LLC Takes $209,000 Position in Hubbell Incorporated (NYSE:HUBB)

Unique Wealth LLC bought a new position in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 498 shares of the industrial products company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment boosted its holdings in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Hubbell in the third quarter worth about $33,000. Versant Capital Management Inc lifted its position in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell in the third quarter worth approximately $41,000. Finally, Quarry LP purchased a new stake in shares of Hubbell in the second quarter worth approximately $49,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Barclays raised their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Mizuho raised their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $471.50.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell 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 transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Down 0.1 %

Shares of Hubbell stock opened at $419.79 on Tuesday. The company’s fifty day simple moving average is $444.95 and its 200-day simple moving average is $415.84. The company has a market cap of $22.53 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 1.69 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1 year low of $319.06 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company posted $3.95 earnings per share. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.26%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 38.04%.

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.