Tidal Investments LLC Purchases 184 Shares of Hubbell Incorporated (NYSE:HUBB)

Tidal Investments LLC increased its position in Hubbell Incorporated (NYSE:HUBB) by 8.5% in the 3rd quarter, Holdings Channel reports. The firm owned 2,358 shares of the industrial products company’s stock after buying an additional 184 shares during the quarter. Tidal Investments LLC’s holdings in Hubbell were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. IFG Advisory LLC bought a new position in shares of Hubbell during the 2nd quarter worth about $475,000. Acadian Asset Management LLC raised its position in Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after purchasing an additional 1,252 shares in the last quarter. LGT Capital Partners LTD. bought a new position in Hubbell during the third quarter worth about $39,687,000. Private Advisor Group LLC boosted its holdings in Hubbell by 89.0% during the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock valued at $1,713,000 after purchasing an additional 2,207 shares in the last quarter. Finally, Impax Asset Management Group plc grew its stake in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Down 0.2 %

HUBB opened at $424.55 on Friday. Hubbell Incorporated has a 1-year low of $315.38 and a 1-year high of $481.35. The stock has a market capitalization of $22.79 billion, a PE ratio of 30.59, a PEG ratio of 1.70 and a beta of 0.91. 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 firm has a 50-day moving average price of $451.31 and a two-hundred day moving average price of $409.39.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $3.95 earnings per share. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is 38.04%.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

HUBB has been the subject of several analyst reports. Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho upped their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Barclays upped their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $472.13.

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.