LRI Investments LLC Boosts Position in Hubbell Incorporated (NYSE:HUBB)

LRI Investments LLC raised its stake in Hubbell Incorporated (NYSE:HUBB) by 607.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 297 shares of the industrial products company’s stock after buying an additional 255 shares during the period. LRI Investments LLC’s holdings in Hubbell were worth $131,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment raised its stake in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Hubbell during the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell in the 3rd quarter worth $41,000. Quarry LP bought a new position in shares of Hubbell during the 2nd quarter worth $49,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Hubbell during the third quarter valued at $58,000. 88.16% of the stock is currently owned by institutional investors.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated 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 sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

Hubbell Stock Down 0.8 %

Shares of HUBB stock opened at $448.60 on Wednesday. The stock’s fifty day moving average price is $450.21 and its 200 day moving average price is $407.19. Hubbell Incorporated has a 1-year low of $306.92 and a 1-year high of $481.35. The company has a market cap of $24.08 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.95 earnings per share. On average, research analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Analysts Set New Price Targets

A number of analysts recently weighed in on HUBB shares. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Barclays increased their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company increased 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 started coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $472.13.

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.