TruWealth Advisors LLC Buys 36 Shares of Hubbell Incorporated (NYSE:HUBB)

TruWealth Advisors LLC increased its stake in Hubbell Incorporated (NYSE:HUBB) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 916 shares of the industrial products company’s stock after purchasing an additional 36 shares during the quarter. TruWealth Advisors LLC’s holdings in Hubbell were worth $384,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HUBB. Groupama Asset Managment lifted its holdings in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Hubbell in the third quarter valued at approximately $33,000. Versant Capital Management Inc lifted its stake in shares of Hubbell by 64.6% during the 4th 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in Hubbell in the 3rd quarter worth approximately $41,000. Finally, Quarry LP purchased a new position in Hubbell in the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on HUBB shares. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $471.50.

Hubbell Price Performance

HUBB stock opened at $437.52 on Friday. The firm has a 50 day simple moving average of $442.54 and a two-hundred day simple moving average of $417.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The stock has a market cap of $23.48 billion, a PE ratio of 31.52, a P/E/G ratio of 1.45 and a beta of 0.93. Hubbell Incorporated has a one year low of $322.27 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $3.95 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts predict 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 was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $1.32 dividend. This is an increase 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 yield of 1.21%. Hubbell’s payout ratio is presently 38.04%.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction 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 transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by insiders.

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.