Sequoia Financial Advisors LLC Has $2.52 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Sequoia Financial Advisors LLC grew its holdings in Hubbell Incorporated (NYSE:HUBB) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,889 shares of the industrial products company’s stock after purchasing an additional 152 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Hubbell were worth $2,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nvwm LLC acquired a new position in shares of Hubbell in the 1st quarter valued at about $25,000. Quarry LP bought a new stake in Hubbell in the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the 3rd quarter valued at about $58,000. GAMMA Investing LLC increased its position in Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after buying an additional 72 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Hubbell in the 2nd quarter valued at about $62,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Barclays boosted their target price on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price objective on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $428.13.

Insider Activity at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Hubbell Stock Performance

HUBB stock opened at $444.72 on Thursday. The firm has a market cap of $23.88 billion, a PE ratio of 33.16, a P/E/G ratio of 1.67 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $413.15 and a 200-day moving average of $394.18. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $461.77.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. Hubbell’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.07 earnings per share. As a group, sell-side analysts expect that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio is presently 36.39%.

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.