Foster Victor Wealth Advisors LLC Raises Stake in Hubbell Incorporated (NYSE:HUBB)

Foster Victor Wealth Advisors LLC grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 18.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,829 shares of the industrial products company’s stock after purchasing an additional 604 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Hubbell were worth $1,236,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HUBB. First Manhattan Co. purchased a new stake in Hubbell in the first quarter worth about $28,000. Atlas Capital Advisors LLC purchased a new stake in Hubbell in the fourth quarter worth about $40,000. Coppell Advisory Solutions Corp. purchased a new stake in Hubbell in the fourth quarter worth about $47,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Hubbell during the second quarter valued at about $50,000. Finally, Compass Wealth Management LLC purchased a new stake in shares of Hubbell during the fourth quarter valued at about $82,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the transaction, 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. Insiders have sold 34,125 shares of company stock valued at $12,065,100 in the last 90 days. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Performance

NYSE:HUBB traded up $1.19 during midday trading on Friday, hitting $415.05. The company’s stock had a trading volume of 291,185 shares, compared to its average volume of 429,052. Hubbell Incorporated has a fifty-two week low of $219.77 and a fifty-two week high of $419.64. The firm’s 50 day moving average is $372.74 and its 200-day moving average is $329.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The firm has a market cap of $22.26 billion, a P/E ratio of 29.54, a P/E/G ratio of 2.53 and a beta of 0.93.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. Hubbell’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 EPS. Equities analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $1.22 per share. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.18%. Hubbell’s payout ratio is 34.73%.

Analyst Upgrades and Downgrades

Several analysts have commented on HUBB shares. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. TD Cowen started coverage on shares of Hubbell in a research report on Friday, December 8th. They set an “outperform” rating and a $338.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price target for the company. Wells Fargo & Company increased their price target on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Mizuho upped their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.00.

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.