Trajan Wealth LLC Takes $218,000 Position in Hubbell Incorporated (NYSE:HUBB)

Trajan Wealth LLC purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 509 shares of the industrial products company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HUBB. Nvwm LLC bought a new stake in Hubbell in the 1st quarter valued at about $25,000. Quarry LP purchased a new stake in Hubbell during the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell during the 3rd quarter valued at about $58,000. GAMMA Investing LLC increased 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 purchased a new stake in shares of Hubbell in the second quarter worth about $62,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $608,781.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the business’s 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 completion of the sale, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Barclays increased their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday. Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley lifted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $434.38.

Hubbell Stock Down 1.9 %

NYSE HUBB opened at $431.66 on Thursday. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $461.77. The stock has a market capitalization of $23.17 billion, a PE ratio of 32.19, a PEG ratio of 1.66 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The business’s 50-day moving average is $418.82 and its 200 day moving average is $395.15.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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 net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm earned $3.95 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 1.22%. This is a boost 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 36.39%.

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.