B. Riley Wealth Advisors Inc. Takes Position in Hubbell Incorporated (NYSE:HUBB)

B. Riley Wealth Advisors Inc. purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,699 shares of the industrial products company’s stock, valued at approximately $727,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Hubbell by 32.2% in the second quarter. Blue Trust Inc. now owns 320 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 78 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Hubbell by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 8,825 shares of the industrial products company’s stock valued at $3,225,000 after buying an additional 49 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Hubbell in the second quarter worth approximately $238,000. Everhart Financial Group Inc. increased its holdings in Hubbell by 8.9% in the second quarter. Everhart Financial Group Inc. now owns 1,689 shares of the industrial products company’s stock worth $617,000 after buying an additional 138 shares during the last quarter. Finally, Herold Advisors Inc. raised its position in Hubbell by 4.4% during the second quarter. Herold Advisors Inc. now owns 3,117 shares of the industrial products company’s stock valued at $1,139,000 after acquiring an additional 132 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction 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 owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $425.42 on Thursday. Hubbell Incorporated has a 12 month low of $315.38 and a 12 month high of $481.35. The company has a market cap of $22.83 billion, a P/E ratio of 30.65, a P/E/G ratio of 1.70 and a beta of 0.91. The business’s 50 day moving average is $451.69 and its two-hundred day moving average is $409.29. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

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

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $1.32 per share. The ex-dividend date was Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.24%. Hubbell’s dividend payout ratio (DPR) is 38.04%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Mizuho increased their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Barclays raised their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, 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 report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $472.13.

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.