Wealth Alliance Sells 59 Shares of Hubbell Incorporated (NYSE:HUBB)

Wealth Alliance reduced its position in Hubbell Incorporated (NYSE:HUBBFree Report) by 4.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,422 shares of the industrial products company’s stock after selling 59 shares during the period. Wealth Alliance’s holdings in Hubbell were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new stake in Hubbell during the 2nd quarter worth about $50,000. Massmutual Trust Co. FSB ADV grew its position in shares of Hubbell by 40.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 152 shares of the industrial products company’s stock worth $50,000 after buying an additional 44 shares during the period. First Manhattan Co. bought a new stake in shares of Hubbell during the first quarter worth approximately $28,000. Atlas Capital Advisors LLC acquired a new position in Hubbell in the fourth quarter valued at approximately $40,000. Finally, Coppell Advisory Solutions Corp. bought a new position in Hubbell in the fourth quarter valued at approximately $47,000. Institutional investors own 85.97% of the company’s stock.

Insider Activity

In related news, CFO William R. Sperry sold 14,925 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.99, for a total value of $5,268,375.75. Following the completion of the sale, the chief financial officer now directly owns 37,848 shares in the company, valued at approximately $13,359,965.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John F. Malloy purchased 797 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was acquired at an average cost of $313.50 per share, with a total value of $249,859.50. Following the acquisition, the director now owns 17,923 shares in the company, valued at approximately $5,618,860.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William R. Sperry sold 14,925 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the transaction, the chief financial officer now owns 37,848 shares in the company, valued at approximately $13,359,965.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,891 shares of company stock valued at $11,262,870. 0.66% of the stock is owned by insiders.

Hubbell Stock Up 1.3 %

HUBB stock opened at $363.01 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The stock has a market capitalization of $19.46 billion, a P/E ratio of 25.84, a P/E/G ratio of 2.21 and a beta of 0.92. Hubbell Incorporated has a fifty-two week low of $219.77 and a fifty-two week high of $363.36. The business has a 50-day moving average of $327.97 and a 200-day moving average of $312.40.

Hubbell (NYSE:HUBBGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.60 EPS. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.39 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $4.88 annualized dividend and a yield of 1.34%. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Analysts Set New Price Targets

Several equities analysts have weighed in on HUBB shares. TD Cowen started coverage on Hubbell in a research note on Friday, December 8th. They issued an “outperform” rating and a $338.00 target price on the stock. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. raised Hubbell from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $333.00 to $335.00 in a research note on Friday, November 17th. Seaport Res Ptn reiterated a “buy” rating on shares of Hubbell in a research report on Wednesday, November 8th. Finally, Wells Fargo & Company increased their target price on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and a consensus target price of $353.00.

Get Our Latest Report on HUBB

Hubbell Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.