Coldstream Capital Management Inc. Acquires 83 Shares of Hubbell Incorporated (NYSE:HUBB)

Coldstream Capital Management Inc. raised its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,313 shares of the industrial products company’s stock after purchasing an additional 83 shares during the period. Coldstream Capital Management Inc.’s holdings in Hubbell were worth $1,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC raised its stake in Hubbell by 14.2% during the fourth quarter. Private Advisor Group LLC now owns 2,621 shares of the industrial products company’s stock worth $862,000 after buying an additional 326 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of Hubbell in the 4th quarter worth about $221,000. Principal Securities Inc. acquired a new position in Hubbell in the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets boosted its holdings in shares of Hubbell by 125.8% during the 4th quarter. BNP Paribas Financial Markets now owns 28,424 shares of the industrial products company’s stock worth $9,350,000 after buying an additional 15,835 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in Hubbell by 293.9% during the fourth quarter. Jump Financial LLC now owns 3,730 shares of the industrial products company’s stock worth $1,227,000 after acquiring an additional 2,783 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE HUBB opened at $392.87 on Thursday. The company has a fifty day moving average price of $376.24 and a 200-day moving average price of $386.99. The firm has a market cap of $21.09 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted $4.07 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Hubbell Incorporated will post 16.41 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Insider Buying and Selling at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HUBB shares. Wells Fargo & Company upped their price objective on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley assumed coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company. Barclays lowered their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price objective for the company from $431.00 to $441.00 in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $404.88.

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.