Bahl & Gaynor Inc. Boosts Stake in Hubbell Incorporated (NYSE:HUBB)

Bahl & Gaynor Inc. lifted its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,754 shares of the industrial products company’s stock after purchasing an additional 351 shares during the period. Bahl & Gaynor Inc. owned about 0.26% of Hubbell worth $51,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Nvwm LLC acquired a new position in shares of Hubbell during the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 74 shares during the period. Principal Securities Inc. acquired a new position in Hubbell during the fourth quarter worth $40,000. Riverview Trust Co purchased a new position in Hubbell during the first quarter valued at $52,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell in the first quarter valued at about $56,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 0.5 %

Shares of HUBB opened at $380.16 on Wednesday. The stock has a fifty day simple moving average of $376.24 and a two-hundred day simple moving average of $386.99. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $20.41 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. Hubbell’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $4.07 earnings per share. As a group, equities analysts forecast that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s dividend payout ratio is presently 36.39%.

Analysts Set New Price Targets

HUBB has been the topic of a number of research reports. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Wells Fargo & Company raised their target price on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Barclays dropped their price target on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley started coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on 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 approximately $24,861,791.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell 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.