Vestor Capital LLC Sells 148,204 Shares of Hubbell Inc $HUBB

Vestor Capital LLC decreased its holdings in shares of Hubbell Inc (NYSE:HUBB) by 88.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,674 shares of the industrial products company’s stock after selling 148,204 shares during the quarter. Vestor Capital LLC’s holdings in Hubbell were worth $8,924,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HUBB. IFP Advisors Inc lifted its stake in shares of Hubbell by 2.1% during the 2nd quarter. IFP Advisors Inc now owns 1,181 shares of the industrial products company’s stock worth $618,000 after acquiring an additional 24 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Hubbell by 2.4% in the third quarter. Farther Finance Advisors LLC now owns 1,101 shares of the industrial products company’s stock worth $500,000 after purchasing an additional 26 shares during the period. Signaturefd LLC increased its stake in Hubbell by 3.1% in the third quarter. Signaturefd LLC now owns 905 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 27 shares during the period. Meeder Advisory Services Inc. increased its stake in Hubbell by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company’s stock worth $833,000 after purchasing an additional 28 shares during the period. Finally, Tectonic Advisors LLC increased its stake in 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 purchasing an additional 28 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 3.0%

Shares of NYSE:HUBB opened at $442.32 on Tuesday. The business’s 50 day moving average is $455.39 and its 200 day moving average is $486.44. The stock has a market cap of $23.37 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 2.09 and a beta of 0.84. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The company has a quick ratio of 0.87, a current ratio of 1.53 and a debt-to-equity ratio of 1.09.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $5.17 EPS. Hubbell’s revenue was up 24.6% on a year-over-year basis. Sell-side analysts predict that Hubbell Inc will post 20.55 EPS for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a dividend of $1.52 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.42. This represents a $6.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 30th. Hubbell’s payout ratio is 33.29%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HUBB shares. Mizuho set a $515.00 target price on shares of Hubbell in a research note on Wednesday, October 28th. Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Wells Fargo & Company reduced their price target on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Finally, Evercore reiterated an “outperform” rating and set a $630.00 price objective on shares of Hubbell in a report on Friday, October 9th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $546.00.

Hubbell Profile

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.