J.W. Cole Advisors Inc. Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

J.W. Cole Advisors Inc. bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, HoldingsChannel reports. The firm bought 1,035 shares of the industrial products company’s stock, valued at approximately $340,000.

A number of other large investors have also modified their holdings of the business. HTLF Bank purchased a new position in shares of Hubbell during the 4th quarter worth approximately $987,000. Calamos Advisors LLC purchased a new position in shares of Hubbell during the 4th quarter worth approximately $3,083,000. Xponance Inc. raised its stake in shares of Hubbell by 0.4% during the 4th quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after buying an additional 36 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Hubbell by 126.5% during the 4th quarter. Federated Hermes Inc. now owns 21,101 shares of the industrial products company’s stock worth $6,941,000 after buying an additional 11,784 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Hubbell by 13.6% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,022 shares of the industrial products company’s stock worth $336,000 after buying an additional 122 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of NYSE HUBB opened at $398.55 on Thursday. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The business has a 50-day moving average of $394.11 and a 200-day moving average of $341.52. 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 has a market capitalization of $21.37 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.38 and a beta of 0.94.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Dividend Announcement

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

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the completion of the transaction, the chief financial officer now owns 37,848 shares in the company, valued at approximately $13,359,965.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,125 shares of company stock worth $12,065,100. 0.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.