LVM Capital Management Ltd. MI Raises Holdings in Hubbell Incorporated (NYSE:HUBB)

LVM Capital Management Ltd. MI lifted its holdings in Hubbell Incorporated (NYSE:HUBB) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,506 shares of the industrial products company’s stock after buying an additional 976 shares during the quarter. Hubbell accounts for 1.2% of LVM Capital Management Ltd. MI’s portfolio, making the stock its 26th biggest holding. LVM Capital Management Ltd. MI owned 0.05% of Hubbell worth $11,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Groupama Asset Managment grew its position in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the period. Prospera Private Wealth LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc increased its holdings 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 acquiring an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Hubbell during the third quarter worth about $41,000. Finally, Quarry LP acquired a new stake in shares of Hubbell in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays upped their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $471.50.

Hubbell Stock Down 2.7 %

NYSE:HUBB traded down $11.82 during mid-day trading on Friday, hitting $422.95. The company had a trading volume of 197,331 shares, compared to its average volume of 298,808. The business has a fifty day simple moving average of $445.16 and a 200-day simple moving average of $414.64. The firm has a market capitalization of $22.70 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 1.69 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1 year low of $319.06 and a 1 year high of $481.35.

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

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.25%. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

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.