Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Avestar Capital LLC

Avestar Capital LLC lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 577 shares of the industrial products company’s stock after acquiring an additional 28 shares during the quarter. Avestar Capital LLC’s holdings in Hubbell were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in Hubbell during the 3rd quarter worth $33,000. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the 3rd quarter worth $41,000. Quarry LP purchased a new stake in Hubbell during the 2nd quarter worth $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the 3rd quarter worth $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell during the 2nd quarter worth $62,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $449.11.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value 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 approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.78% of the stock is currently owned by company insiders.

Hubbell Trading Down 0.4 %

NYSE HUBB opened at $458.81 on Thursday. Hubbell Incorporated has a one year low of $293.91 and a one year high of $481.35. The company has a 50-day simple moving average of $444.28 and a 200-day simple moving average of $403.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a market capitalization of $24.62 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted 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. The firm had revenue of $1.44 billion during 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%. Hubbell’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.95 EPS. On average, equities analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is presently 35.16%.

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.