Aptus Capital Advisors LLC boosted its position in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,160 shares of the industrial products company’s stock after buying an additional 840 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Hubbell were worth $2,418,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Hubbell in the 4th quarter worth about $28,000. National Bank of Canada FI bought a new stake in shares of Hubbell during the 4th quarter worth $36,000. Quent Capital LLC acquired a new position in Hubbell during the 4th quarter valued at $43,000. Covestor Ltd acquired a new position in shares of Hubbell in the 4th quarter valued at $46,000. Finally, Parallel Advisors LLC raised its stake in shares of Hubbell by 150.0% in the 1st quarter. Parallel Advisors LLC now owns 305 shares of the industrial products company’s stock valued at $58,000 after buying an additional 183 shares in the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.
Hubbell Trading Up 2.8 %
Shares of HUBB stock opened at $209.71 on Thursday. Hubbell Incorporated has a 12-month low of $170.21 and a 12-month high of $212.54. The firm has a 50 day moving average price of $187.02 and a two-hundred day moving average price of $187.57. The company has a market capitalization of $11.25 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 2.09 and a beta of 1.11. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 0.65.
Hubbell Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a dividend of $1.05 per share. The ex-dividend date is Tuesday, August 30th. This represents a $4.20 annualized dividend and a yield of 2.00%. Hubbell’s dividend payout ratio is currently 45.80%.
Wall Street Analysts Forecast Growth
HUBB has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Hubbell from $190.00 to $206.00 and gave the stock an “equal weight” rating in a report on Wednesday. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday, April 30th. Finally, Wells Fargo & Company upped their price objective on shares of Hubbell to $196.00 and gave the company an “outperform” rating in a research report on Wednesday.
Insider Buying and Selling
In other Hubbell news, Director Carlos M. Cardoso sold 749 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $193.73, for a total value of $145,103.77. Following the transaction, the director now owns 1,744 shares in the company, valued at $337,865.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.
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