Banque Cantonale Vaudoise Grows Stock Position in Hubbell Incorporated (NYSE:HUBB)

Banque Cantonale Vaudoise raised its position in Hubbell Incorporated (NYSE:HUBB) by 375.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,147 shares of the industrial products company’s stock after acquiring an additional 6,433 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Hubbell were worth $3,490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $41,000. Quarry LP purchased a new stake in Hubbell during the 2nd quarter valued at approximately $49,000. Northwest Investment Counselors LLC bought a new position in Hubbell during the third quarter valued at approximately $58,000. GAMMA Investing LLC grew its stake in shares of Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after buying an additional 72 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell during the 2nd quarter valued at approximately $62,000. Institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Wells Fargo & Company raised their target price 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. Stephens restated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Performance

Shares of HUBB stock opened at $452.22 on Wednesday. Hubbell Incorporated has a 52 week low of $293.91 and a 52 week high of $481.35. The company has a market cap of $24.27 billion, a P/E ratio of 32.58, a PEG ratio of 1.63 and a beta of 0.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $436.41 and a two-hundred day moving average of $400.49.

Hubbell (NYSE:HUBB) last issued 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. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $3.95 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. 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. This represents a $5.28 annualized dividend and a dividend yield of 1.17%. Hubbell’s dividend payout ratio is 35.16%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.78% 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.