Insight Wealth Strategies LLC Grows Stock Position in Hubbell Incorporated (NYSE:HUBB)

Insight Wealth Strategies LLC boosted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,202 shares of the industrial products company’s stock after buying an additional 330 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Hubbell were worth $4,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of HUBB. Nordea Investment Management AB boosted its stake in shares of Hubbell by 29.6% during the 4th quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock worth $67,503,000 after purchasing an additional 36,643 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Hubbell during the fourth quarter valued at approximately $427,000. GAMMA Investing LLC grew its stake in shares of Hubbell by 133.1% during the fourth quarter. GAMMA Investing LLC now owns 366 shares of the industrial products company’s stock valued at $153,000 after buying an additional 209 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Hubbell by 7.1% in the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares during the period. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of several research analyst reports. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Hubbell has a consensus rating of “Hold” and a consensus target price of $472.13.

Hubbell Stock Performance

NYSE HUBB traded up $7.31 on Monday, hitting $438.27. 197,343 shares of the company’s stock traded hands, compared to its average volume of 260,489. The firm has a market capitalization of $23.52 billion, a PE ratio of 31.58, a P/E/G ratio of 1.69 and a beta of 0.93. Hubbell Incorporated has a 1-year low of $317.32 and a 1-year high of $481.35. The firm’s 50-day moving average price is $445.25 and its two-hundred day moving average price is $413.35. 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 (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share 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 business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $3.95 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, analysts expect that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

About Hubbell

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.