Trajan Wealth LLC Takes Position in Hubbell Incorporated (NYSE:HUBB)

Trajan Wealth LLC acquired a new position in Hubbell Incorporated (NYSE:HUBB) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 509 shares of the industrial products company’s stock, valued at approximately $218,000.

A number of other hedge funds have also bought and sold shares of HUBB. International Assets Investment Management LLC increased its position in Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after acquiring an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc increased its holdings in Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after acquiring an additional 322,728 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in shares of Hubbell by 60.9% in the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock worth $74,821,000 after purchasing an additional 77,500 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’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 sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hubbell Price Performance

Hubbell stock opened at $431.66 on Thursday. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $461.77. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $418.82 and a 200-day moving average price of $395.15. The firm has a market capitalization of $23.17 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.95 EPS. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 represents a $5.28 annualized dividend and a yield of 1.22%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is 36.39%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Barclays lifted their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $434.38.

Hubbell 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.