Vestor Capital LLC Buys 2,063 Shares of Hubbell Incorporated (NYSE:HUBB)

Vestor Capital LLC increased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 100.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,126 shares of the industrial products company’s stock after purchasing an additional 2,063 shares during the quarter. Vestor Capital LLC’s holdings in Hubbell were worth $1,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nvwm LLC purchased a new stake in shares of Hubbell in the first quarter valued at $25,000. Quarry LP purchased a new stake in Hubbell in the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the third quarter worth about $58,000. GAMMA Investing LLC boosted its position in shares of Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after buying an additional 72 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell during the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on 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 price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Mizuho raised their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $434.38.

Hubbell Stock Performance

Shares of HUBB stock opened at $425.70 on Monday. The firm has a market cap of $22.85 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.59 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $274.42 and a 52-week high of $461.77. The company has a quick ratio of 1.13, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $421.70 and its 200 day moving average is $395.81.

Hubbell (NYSE:HUBB) last announced its quarterly 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 business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $3.95 EPS. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.46 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio is presently 35.16%.

Insider Activity

In related news, CEO Gerben Bakker sold 15,677 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. 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.