Beacon Harbor Wealth Advisors Inc. Buys 426 Shares of Hubbell Incorporated (NYSE:HUBB)

Beacon Harbor Wealth Advisors Inc. lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,832 shares of the industrial products company’s stock after acquiring an additional 426 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in Hubbell were worth $5,208,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. First Trust Direct Indexing L.P. bought a new position in shares of Hubbell in the 4th quarter valued at about $260,000. Great Valley Advisor Group Inc. bought a new position in shares of Hubbell in the 4th quarter valued at about $1,258,000. New York Life Investment Management LLC acquired a new stake in shares of Hubbell in the fourth quarter valued at about $2,530,000. Essex Financial Services Inc. lifted its holdings in Hubbell by 3.1% during the 4th quarter. Essex Financial Services Inc. now owns 1,703 shares of the industrial products company’s stock valued at $560,000 after purchasing an additional 52 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new position in shares of Hubbell in the fourth quarter valued at $699,000. Institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In related news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the transaction, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the sale, the vice president now owns 3,646 shares of the company’s stock, valued at approximately $1,286,090.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the sale, the vice president now owns 9,355 shares in the company, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,125 shares of company stock valued at $12,065,100. Insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of HUBB traded up $0.11 during midday trading on Thursday, reaching $373.41. The stock had a trading volume of 359,754 shares, compared to its average volume of 426,411. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The company has a current ratio of 1.66, a quick ratio of 1.01 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61. The company’s 50-day moving average is $397.61 and its 200 day moving average is $344.52.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.61 earnings per share. On average, equities analysts predict that Hubbell Incorporated will post 16.4 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio is presently 36.39%.

Analyst Ratings Changes

Several equities analysts recently commented on HUBB shares. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays dropped their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research note on Thursday. Mizuho boosted their target price on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Finally, Wells Fargo & Company decreased their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $386.57.

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.