2,033 Shares of Hubbell Inc $HUBB Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC acquired a new position in shares of Hubbell Inc (NYSE:HUBB) during the third quarter, HoldingsChannel.com reports. The fund acquired 2,033 shares of the industrial products company’s stock, valued at approximately $922,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Hubbell by 2.1% in the second quarter. IFP Advisors Inc now owns 1,181 shares of the industrial products company’s stock worth $618,000 after buying an additional 24 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Hubbell by 2.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,101 shares of the industrial products company’s stock valued at $500,000 after buying an additional 26 shares during the period. Signaturefd LLC raised its holdings in shares of Hubbell by 3.1% during the 3rd quarter. Signaturefd LLC now owns 905 shares of the industrial products company’s stock valued at $411,000 after buying an additional 27 shares during the period. Meeder Advisory Services Inc. raised its holdings in shares of Hubbell by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company’s stock valued at $833,000 after buying an additional 28 shares during the period. Finally, Tectonic Advisors LLC raised its holdings in shares of Hubbell by 2.0% during the 3rd quarter. Tectonic Advisors LLC now owns 1,457 shares of the industrial products company’s stock valued at $661,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of several recent research reports. Seaport Research Partners reissued a “buy” rating and set a $580.00 price target on shares of Hubbell in a research report on Wednesday, September 30th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $485.00 to $486.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Finally, Evercore reissued an “outperform” rating and set a $630.00 target price on shares of Hubbell in a research report on Friday, October 9th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average target price of $546.00.

Hubbell Stock Down 2.6%

Shares of Hubbell stock opened at $437.72 on Thursday. The business has a 50-day moving average of $457.64 and a 200-day moving average of $487.21. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.53 and a quick ratio of 0.87. The company has a market capitalization of $23.13 billion, a PE ratio of 25.66, a P/E/G ratio of 2.14 and a beta of 0.84. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.75 by $0.16. Hubbell had a return on equity of 27.33% and a net margin of 13.78%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned $5.17 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities analysts forecast that Hubbell Inc will post 20.54 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a dividend of $1.52 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, November 30th. This represents a $6.08 dividend on an annualized basis and a yield of 1.4%. Hubbell’s payout ratio is 35.64%.

Insiders Place Their Bets

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of Hubbell stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the sale, the vice president directly owned 2,933 shares in the company, valued at $1,520,936.48. The trade was a 15.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.

About Hubbell

Hubbell Incorporated (NYSE:HUBB) is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell’s Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.