Everence Capital Management Inc. Buys Shares of 1,020 Hubbell Incorporated (NYSE:HUBB)

Everence Capital Management Inc. bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,020 shares of the industrial products company’s stock, valued at approximately $427,000.

A number of other large investors also recently modified their holdings of the business. Groupama Asset Managment lifted its holdings in 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 acquiring an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Hubbell in the 3rd quarter worth approximately $33,000. Versant Capital Management Inc boosted its position in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC bought a new position in Hubbell during the 3rd quarter worth $41,000. Finally, Quarry LP acquired a new stake in Hubbell in the second quarter worth $49,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Trading Up 2.6 %

Shares of HUBB stock opened at $430.96 on Monday. The stock has a 50-day simple moving average of $445.25 and a 200 day simple moving average of $413.35. The stock has a market capitalization of $23.13 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.69 and a beta of 0.93. Hubbell Incorporated has a fifty-two week low of $315.38 and a fifty-two week high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $3.95 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is 38.04%.

Insider Transactions at Hubbell

In other 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 directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HUBB. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Wells Fargo & Company lifted their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and cut their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $472.13.

About Hubbell

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.