Sequoia Financial Advisors LLC Buys New Shares in Hubbell Incorporated (NYSE:HUBB)

Sequoia Financial Advisors LLC purchased a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,878 shares of the industrial products company’s stock, valued at approximately $1,276,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HUBB. International Assets Investment Management LLC lifted its position in Hubbell by 32,734.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Hubbell by 133.8% during the 1st quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock worth $283,646,000 after acquiring an additional 883,272 shares during the period. Norges Bank acquired a new stake in shares of Hubbell during the 4th quarter valued at about $90,375,000. Massachusetts Financial Services Co. MA increased its stake in Hubbell by 46.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock valued at $319,699,000 after acquiring an additional 323,116 shares during the period. Finally, Morgan Stanley raised its position in Hubbell by 44.1% in the fourth quarter. Morgan Stanley now owns 597,030 shares of the industrial products company’s stock worth $140,111,000 after purchasing an additional 182,790 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HUBB shares. Barclays lifted their price objective on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Mizuho raised their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company boosted their target price on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $383.57.

Hubbell Price Performance

HUBB opened at $401.74 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The company’s 50 day simple moving average is $387.95 and its 200-day simple moving average is $336.76. Hubbell Incorporated has a one year low of $221.03 and a one year high of $429.61. The stock has a market capitalization of $21.55 billion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 2.47 and a beta of 0.94.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $2.60 EPS. Sell-side analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Wednesday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the transaction, the chief executive officer now directly owns 51,783 shares in the company, valued at $18,286,130.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, CFO William R. Sperry sold 14,925 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the transaction, the chief financial officer now owns 37,848 shares in the company, valued at $13,359,965.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the transaction, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock worth $12,065,100 in the last quarter. 0.66% of the stock is owned by company insiders.

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.