Adero Partners LLC Invests $234,000 in Hubbell Incorporated (NYSE:HUBB)

Adero Partners LLC purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the third quarter, Holdings Channel reports. The firm purchased 547 shares of the industrial products company’s stock, valued at approximately $234,000.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell during the 3rd quarter worth approximately $41,000. Quarry LP bought a new position in Hubbell during the second quarter valued at $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the third quarter worth $58,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hubbell in the second quarter valued at $62,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after buying an additional 35 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HUBB. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Barclays upped their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Price Performance

NYSE:HUBB opened at $437.61 on Monday. The firm has a market capitalization of $23.49 billion, a price-to-earnings ratio of 31.53, a P/E/G ratio of 1.63 and a beta of 0.90. 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 stock has a fifty day moving average of $435.08 and a 200 day moving average of $399.80. Hubbell Incorporated has a 52-week low of $287.06 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. The business 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 for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.95 earnings per share. On average, research analysts expect that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 38.04%.

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.