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

Provenance Wealth Advisors LLC bought a new stake in Hubbell Inc (NYSE:HUBB) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,033 shares of the industrial products company’s stock, valued at approximately $922,000.

Several other large investors have also recently added to or reduced their stakes in HUBB. IFP Advisors Inc grew its holdings in Hubbell by 2.1% in the 2nd quarter. IFP Advisors Inc now owns 1,181 shares of the industrial products company’s stock valued at $618,000 after buying an additional 24 shares during the period. Farther Finance Advisors LLC lifted 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 worth $500,000 after acquiring an additional 26 shares during the period. Signaturefd LLC lifted 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 worth $411,000 after acquiring an additional 27 shares during the period. Meeder Advisory Services Inc. lifted 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 worth $833,000 after acquiring an additional 28 shares during the period. Finally, Tectonic Advisors LLC boosted its position in shares of Hubbell by 2.0% in the third quarter. Tectonic Advisors LLC now owns 1,457 shares of the industrial products company’s stock worth $661,000 after acquiring an additional 28 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the transaction, the vice president directly owned 2,933 shares of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on HUBB. Morgan Stanley set a $600.00 target price on shares of Hubbell in a report on Friday, October 16th. Seaport Research Partners reaffirmed a “buy” rating and set a $580.00 price target on shares of Hubbell in a research note on Wednesday, September 30th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $546.00.

Hubbell Stock Performance

Hubbell stock opened at $437.72 on Thursday. The stock’s 50-day moving average is $457.64 and its 200-day moving average is $487.21. The company has a market cap of $23.13 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.14 and a beta of 0.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.53 and a quick ratio of 0.87. Hubbell Inc has a 12 month low of $403.82 and a 12 month high of $565.50.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating the consensus estimate 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 posted $5.17 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. Equities analysts anticipate that Hubbell Inc will post 20.54 earnings per share for the current year.

Hubbell Increases Dividend

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

Hubbell Company Profile

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.