Hamilton Point Investment Advisors LLC Has $8.56 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Hamilton Point Investment Advisors LLC lessened its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,983 shares of the industrial products company’s stock after selling 234 shares during the period. Hubbell accounts for 1.5% of Hamilton Point Investment Advisors LLC’s holdings, making the stock its 20th biggest holding. Hamilton Point Investment Advisors LLC’s holdings in Hubbell were worth $8,560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in Hubbell in the third quarter worth $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell in the 3rd quarter valued at about $41,000. Quarry LP bought a new stake in Hubbell in the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $58,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Hubbell during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of NYSE HUBB opened at $460.81 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $440.09 and a two-hundred day simple moving average of $401.71. Hubbell Incorporated has a 1-year low of $293.91 and a 1-year high of $481.35. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.95 EPS. Analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 35.16%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HUBB shares. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays upped their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Mizuho lifted their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $445.56.

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.