Pittenger & Anderson Inc. Purchases Shares of 300 Hubbell Incorporated (NYSE:HUBB)

Pittenger & Anderson Inc. purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 300 shares of the industrial products company’s stock, valued at approximately $129,000.

Several other large investors have also added to or reduced their stakes in HUBB. Norden Group LLC purchased a new stake in Hubbell during the 1st quarter valued at about $261,000. Janney Montgomery Scott LLC grew its stake in Hubbell by 4.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,710 shares of the industrial products company’s stock valued at $5,276,000 after purchasing an additional 488 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Hubbell in the first quarter worth about $84,000. Jennison Associates LLC purchased a new stake in shares of Hubbell in the first quarter worth about $428,000. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Hubbell in the first quarter worth about $2,266,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of Hubbell stock opened at $439.89 on Wednesday. The business has a 50 day simple moving average of $423.54 and a two-hundred day simple moving average of $396.41. Hubbell Incorporated has a 12 month low of $274.42 and a 12 month high of $461.77. The stock has a market capitalization of $23.61 billion, a P/E ratio of 31.69, a PEG ratio of 1.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

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

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 38.04%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley upped their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday. They issued an “outperform” rating and a $535.00 target price on the stock. Wells Fargo & Company upped their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

Insider Buying and Selling at Hubbell

In other 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 completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $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 available at this link. Insiders own 0.78% of the company’s stock.

About Hubbell

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.