Valley Wealth Managers Inc. Lowers Position in Hubbell Incorporated (NYSE:HUBB)

Valley Wealth Managers Inc. lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 6.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 58,611 shares of the industrial products company’s stock after selling 3,940 shares during the quarter. Hubbell accounts for approximately 1.7% of Valley Wealth Managers Inc.’s holdings, making the stock its 13th largest position. Valley Wealth Managers Inc.’s holdings in Hubbell were worth $21,421,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC raised its stake in Hubbell by 14.2% during the fourth quarter. Private Advisor Group LLC now owns 2,621 shares of the industrial products company’s stock valued at $862,000 after purchasing an additional 326 shares in the last quarter. Principal Securities Inc. purchased a new stake in Hubbell during the fourth quarter valued at $40,000. BNP Paribas Financial Markets raised its stake in Hubbell by 125.8% during the fourth quarter. BNP Paribas Financial Markets now owns 28,424 shares of the industrial products company’s stock valued at $9,350,000 after purchasing an additional 15,835 shares in the last quarter. Jump Financial LLC raised its stake in Hubbell by 293.9% during the fourth quarter. Jump Financial LLC now owns 3,730 shares of the industrial products company’s stock valued at $1,227,000 after purchasing an additional 2,783 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Hubbell by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 363,891 shares of the industrial products company’s stock valued at $119,693,000 after purchasing an additional 19,655 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 1.6 %

NYSE HUBB opened at $399.18 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The company has a market capitalization of $21.43 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The company’s 50-day simple moving average is $377.23 and its two-hundred day simple moving average is $387.11. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $4.07 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Equities analysts forecast that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Analysts Set New Price Targets

HUBB has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley initiated coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective on the stock. Barclays cut their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Stephens reiterated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction 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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.