Hubbell Inc $HUBB Stock Sold by Vestor Capital LLC

Vestor Capital LLC cut its holdings in shares of Hubbell Inc (NYSE:HUBB) by 88.3% during the third quarter, Holdings Channel.com reports. The firm owned 19,674 shares of the industrial products company’s stock after selling 148,204 shares during the period. Vestor Capital LLC’s holdings in Hubbell were worth $8,924,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. AlphaCore Capital LLC lifted its holdings in Hubbell by 26.2% during the third quarter. AlphaCore Capital LLC now owns 1,840 shares of the industrial products company’s stock worth $835,000 after buying an additional 382 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Hubbell by 499.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 37,697 shares of the industrial products company’s stock valued at $17,604,000 after acquiring an additional 31,413 shares in the last quarter. Candriam S.C.A. boosted its position in Hubbell by 8.2% during the 3rd quarter. Candriam S.C.A. now owns 9,150 shares of the industrial products company’s stock valued at $4,166,000 after acquiring an additional 696 shares in the last quarter. Ethic Inc. increased its holdings in shares of Hubbell by 20.3% in the 3rd quarter. Ethic Inc. now owns 13,213 shares of the industrial products company’s stock valued at $5,993,000 after acquiring an additional 2,229 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of Hubbell in the 3rd quarter valued at $921,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

NYSE HUBB opened at $442.32 on Tuesday. The firm’s fifty day simple moving average is $455.39 and its two-hundred day simple moving average is $486.44. The company has a current ratio of 1.53, a quick ratio of 0.87 and a debt-to-equity ratio of 1.09. Hubbell Inc has a 12-month low of $403.82 and a 12-month high of $565.50. The firm has a market capitalization of $23.37 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.09 and a beta of 0.84.

Hubbell (NYSE:HUBB) last issued its quarterly 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 the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $5.17 earnings per share. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts forecast that Hubbell Inc will post 20.55 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a dividend of $1.52 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, November 30th. This represents a $6.08 annualized dividend and a yield of 1.4%. Hubbell’s dividend payout ratio (DPR) is presently 33.29%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HUBB shares. Seaport Research Partners reissued a “buy” rating and issued a $580.00 price target on shares of Hubbell in a research report on Wednesday, September 30th. Robert W. Baird dropped their price objective on Hubbell from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. JPMorgan Chase & Co. lifted their target price on Hubbell from $485.00 to $486.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company reduced their target price on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, October 28th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $546.00.

About Hubbell

Hubbell Incorporated is a manufacturer of electrical and utility products serving customers in the energy, industrial, commercial and residential markets. Its products help support the generation, transmission and distribution of electricity, as well as the installation and use of electrical systems.

The company’s Utility Solutions business makes products such as connectors, insulators, arresters and other equipment used in electric utility networks. Its Electrical Solutions business supplies wiring devices, lighting and controls, enclosures and related products for buildings and industrial applications.

Founded by inventor Harvey Hubbell in 1888, the company serves customers primarily in North America, with operations and sales in other markets.