Valeo Financial Advisors LLC grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 156.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,164 shares of the industrial products company’s stock after purchasing an additional 710 shares during the period. Valeo Financial Advisors LLC’s holdings in Hubbell were worth $118,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in shares of Hubbell by 8.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,317 shares of the industrial products company’s stock worth $774,000 after buying an additional 560 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Hubbell by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,415 shares of the industrial products company’s stock worth $2,264,000 after buying an additional 617 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Hubbell by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 120,227 shares of the industrial products company’s stock worth $12,713,000 after buying an additional 689 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Hubbell by 16.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,227 shares of the industrial products company’s stock worth $553,000 after buying an additional 722 shares in the last quarter. Finally, Rothschild Asset Management Inc. boosted its position in shares of Hubbell by 0.6% in the 2nd quarter. Rothschild Asset Management Inc. now owns 128,323 shares of the industrial products company’s stock worth $13,569,000 after buying an additional 766 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.
In other news, Director Neal J. Keating bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was purchased at an average price of $101.55 per share, with a total value of $101,550.00. Following the purchase, the director now owns 6,971 shares of the company’s stock, valued at approximately $707,905.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John F. Malloy bought 994 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average cost of $100.82 per share, with a total value of $100,215.08. Following the purchase, the director now directly owns 13,020 shares in the company, valued at approximately $1,312,676.40. The disclosure for this purchase can be found here. Insiders own 0.69% of the company’s stock.
Shares of HUBB stock opened at $107.97 on Monday. Hubbell Incorporated has a twelve month low of $97.02 and a twelve month high of $149.03. The stock has a market capitalization of $5.91 billion, a P/E ratio of 18.21, a PEG ratio of 1.48 and a beta of 1.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.88 and a quick ratio of 1.16.
Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.11. Hubbell had a net margin of 6.88% and a return on equity of 23.08%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, analysts expect that Hubbell Incorporated will post 7.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.84 dividend. This is an increase from Hubbell’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $3.36 annualized dividend and a yield of 3.11%. Hubbell’s payout ratio is presently 51.94%.
Several equities research analysts recently commented on HUBB shares. Zacks Investment Research lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Morgan Stanley boosted their price objective on shares of Hubbell from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. Wells Fargo & Co reiterated an “outperform” rating and issued a $140.00 price objective (up from $135.00) on shares of Hubbell in a research report on Wednesday, July 25th. Finally, ValuEngine raised shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $137.83.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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