Logan Capital Management Inc. Sells 5,403 Shares of Hubbell Inc $HUBB

Logan Capital Management Inc. lowered its holdings in shares of Hubbell Inc (NYSE:HUBB) by 16.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,575 shares of the industrial products company’s stock after selling 5,403 shares during the quarter. Logan Capital Management Inc.’s holdings in Hubbell were worth $11,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HUBB. Central Pacific Bank Trust Division bought a new stake in Hubbell during the second quarter valued at approximately $29,000. Cullen Frost Bankers Inc. grew its position in shares of Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 68 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Hubbell during the 1st quarter valued at $53,000. Groupe la Francaise purchased a new stake in shares of Hubbell in the 1st quarter worth $57,000. Finally, Geneos Wealth Management Inc. raised its holdings in Hubbell by 271.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on HUBB. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Wells Fargo & Company upgraded shares of Hubbell from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Barclays upped their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $476.50.

Hubbell Trading Down 0.1%

HUBB stock opened at $434.10 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The business has a 50 day simple moving average of $431.32 and a two-hundred day simple moving average of $407.61. The company has a market capitalization of $23.07 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.42 and a beta of 0.96.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. Research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a $1.42 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is presently 34.29%.

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.