Hubbell Incorporated (NYSE:HUBB) Holdings Lifted by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,288 shares of the industrial products company’s stock after purchasing an additional 31 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Hubbell were worth $1,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell during the third quarter worth $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at $41,000. Quarry LP purchased a new position in Hubbell in the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell during the 3rd quarter worth about $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell during the second quarter valued at about $62,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HUBB has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $449.11.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $460.55 on Wednesday. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of 33.18, a P/E/G ratio of 1.71 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year 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 business has a fifty day simple moving average of $443.30 and a 200 day simple moving average of $403.08.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during 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 business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $3.95 EPS. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. Hubbell’s payout ratio is 38.04%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a legal 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.