Hubbell Incorporated (NYSE:HUBB) is Valley Wealth Managers Inc.’s 7th Largest Position

Valley Wealth Managers Inc. decreased its position in Hubbell Incorporated (NYSE:HUBB) by 0.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,156 shares of the industrial products company’s stock after selling 455 shares during the period. Hubbell accounts for about 1.8% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 7th biggest position. Valley Wealth Managers Inc. owned approximately 0.11% of Hubbell worth $24,911,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. OLD National Bancorp IN lifted its holdings in Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after buying an additional 22 shares during the period. CWM LLC increased its position in shares of Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after purchasing an additional 28 shares in the last quarter. Detalus Advisors LLC increased its position in shares of Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 30 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares in the last quarter. Finally, Savant Capital LLC increased its position in shares of Hubbell by 2.6% during the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HUBB. Barclays upped their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and upped their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company upped their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein began 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is owned by insiders.

Hubbell Trading Up 1.0 %

Shares of NYSE HUBB traded up $4.36 during midday trading on Friday, reaching $444.45. 19,072 shares of the stock were exchanged, compared to its average volume of 442,342. The company has a 50 day simple moving average of $432.35 and a 200 day simple moving average of $399.10. The stock has a market capitalization of $23.85 billion, a P/E ratio of 31.71, a PEG ratio of 1.69 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a twelve month low of $287.06 and a twelve month high of $481.35.

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, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $3.95 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is 35.16%.

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.