Benjamin Edwards Inc. Increases Position in Hubbell Inc (NYSE:HUBB)

Benjamin Edwards Inc. increased its stake in shares of Hubbell Inc (NYSE:HUBB) by 19.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,213 shares of the industrial products company’s stock after buying an additional 196 shares during the quarter. Benjamin Edwards Inc.’s holdings in Hubbell were worth $401,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Townsquare Capital LLC acquired a new position in Hubbell during the fourth quarter valued at $1,128,000. Guggenheim Capital LLC lifted its position in Hubbell by 13.1% during the fourth quarter. Guggenheim Capital LLC now owns 9,332 shares of the industrial products company’s stock valued at $3,909,000 after purchasing an additional 1,080 shares during the period. Bridgewater Associates LP acquired a new position in Hubbell during the fourth quarter valued at $277,000. United Capital Financial Advisors LLC lifted its position in Hubbell by 11.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 566 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 60 shares during the period. Finally, Zacks Investment Management lifted its position in Hubbell by 2.7% during the fourth quarter. Zacks Investment Management now owns 10,873 shares of the industrial products company’s stock valued at $4,555,000 after purchasing an additional 288 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the sale, the director owned 1,727 shares of the company’s stock, valued at approximately $667,122.83. This represents a 18.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Barclays upped their price objective 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. Finally, Wells Fargo & Company upped their price objective on shares of Hubbell from $420.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $462.29.

Hubbell Stock Down 2.3%

HUBB opened at $427.45 on Friday. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $416.13 and a 200 day moving average price of $382.80. The company has a market cap of $22.71 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.45 and a beta of 0.99.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share 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 during the quarter, compared to the consensus estimate of $1.51 billion. Sell-side analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell’s dividend payout ratio is currently 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.