Atria Investments Inc Purchases 59 Shares of Hubbell Incorporated (NYSE:HUBB)

Atria Investments Inc grew its position in Hubbell Incorporated (NYSE:HUBB) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,689 shares of the industrial products company’s stock after buying an additional 59 shares during the period. Atria Investments Inc’s holdings in Hubbell were worth $1,152,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Hubbell by 15.0% in the 3rd quarter. Assetmark Inc. now owns 6,435 shares of the industrial products company’s stock valued at $2,756,000 after buying an additional 838 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Hubbell by 7.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,157 shares of the industrial products company’s stock valued at $924,000 after buying an additional 142 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in shares of Hubbell by 9.4% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 29,852 shares of the industrial products company’s stock valued at $12,784,000 after buying an additional 2,565 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after buying an additional 15,215 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Hubbell by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,280 shares of the industrial products company’s stock valued at $548,000 after buying an additional 38 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on HUBB shares. Morgan Stanley lifted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Barclays lifted their target price 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. Wells Fargo & Company lifted their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Performance

HUBB opened at $437.61 on Friday. Hubbell Incorporated has a 12-month low of $287.06 and a 12-month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $23.49 billion, a PE ratio of 31.53, a P/E/G ratio of 1.69 and a beta of 0.90. The firm has a 50 day moving average of $435.08 and a two-hundred day moving average of $399.60.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.95 EPS. On average, analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is 35.16%.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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 owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.