Salem Investment Counselors Inc. Acquires 1,886 Shares of Hubbell Incorporated (NYSE:HUBB)

Salem Investment Counselors Inc. raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,144 shares of the industrial products company’s stock after purchasing an additional 1,886 shares during the period. Salem Investment Counselors Inc.’s holdings in Hubbell were worth $3,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. OLD National Bancorp IN boosted its holdings in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 22 shares during the last quarter. Avestar Capital LLC boosted its holdings in Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 28 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of Hubbell by 4.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 701 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 31 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Hubbell by 1.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,288 shares of the industrial products company’s stock worth $1,408,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 0.8 %

Hubbell stock traded down $3.32 during midday trading on Monday, reaching $416.93. The stock had a trading volume of 365,375 shares, compared to its average volume of 365,802. 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 Incorporated has a 52-week low of $319.06 and a 52-week high of $481.35. The firm has a market cap of $22.38 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The company has a fifty day moving average of $445.06 and a 200 day moving average of $415.49.

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, topping analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.95 EPS. On average, analysts anticipate 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 paid a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, November 29th. Hubbell’s dividend payout ratio is currently 38.04%.

Insiders Place Their Bets

In other 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 transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade 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 accessible through this link. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HUBB shares. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $471.50.

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.