Stratos Wealth Partners LTD. Grows Stake in Hubbell Inc (NYSE:HUBB)

Stratos Wealth Partners LTD. boosted its position in shares of Hubbell Inc (NYSE:HUBB) by 29.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,578 shares of the industrial products company’s stock after buying an additional 360 shares during the period. Stratos Wealth Partners LTD.’s holdings in Hubbell were worth $522,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock valued at $2,779,212,000 after acquiring an additional 65,033 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Hubbell by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company’s stock valued at $937,623,000 after buying an additional 7,142 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Hubbell by 6.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after buying an additional 92,954 shares in the last quarter. Invesco Ltd. grew its holdings in Hubbell by 1.9% in the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company’s stock valued at $624,347,000 after buying an additional 27,914 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Hubbell by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock valued at $536,641,000 after buying an additional 29,601 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the sale, the chief executive officer owned 82,101 shares in the company, valued at $31,578,507.63. This represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction on 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 trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Barclays increased their target price on shares of Hubbell from $414.00 to $420.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company set a $420.00 price objective on shares of Hubbell and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $456.25.

Hubbell Price Performance

HUBB stock opened at $415.46 on Tuesday. The business has a 50 day moving average price of $392.77 and a 200 day moving average price of $382.53. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.47 and a beta of 0.99. Hubbell Inc has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 EPS. Equities research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.27%. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

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.