CIBC Private Wealth Group LLC Buys 830 Shares of Hubbell Incorporated (NYSE:HUBB)

CIBC Private Wealth Group LLC lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 0.9% in the third quarter, HoldingsChannel.com reports. The fund owned 93,352 shares of the industrial products company’s stock after acquiring an additional 830 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Hubbell were worth $20,818,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Manhattan Co. bought a new stake in shares of Hubbell during the 1st quarter worth $28,000. Paragon Wealth Strategies LLC bought a new stake in Hubbell in the third quarter worth $45,000. Quent Capital LLC lifted its stake in Hubbell by 22.1% in the third quarter. Quent Capital LLC now owns 254 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 46 shares during the last quarter. CWM LLC lifted its stake in Hubbell by 67.1% in the third quarter. CWM LLC now owns 264 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 106 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Hubbell by 25.7% in the third quarter. IFP Advisors Inc now owns 274 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 56 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on HUBB. Wells Fargo & Company boosted their price target on shares of Hubbell from $221.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. JPMorgan Chase & Co. raised shares of Hubbell from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $200.00 to $205.00 in a research note on Wednesday, February 1st. Wolfe Research downgraded shares of Hubbell from a “peer perform” rating to an “underperform” rating and set a $235.00 price target for the company. in a research note on Thursday, December 1st. UBS Group downgraded shares of Hubbell from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $254.00 to $225.00 in a research note on Wednesday, January 4th. Finally, Morgan Stanley boosted their price target on shares of Hubbell from $226.00 to $238.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $230.00.

Insider Activity

In other news, CEO Gerben Bakker sold 9,350 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $240.80, for a total transaction of $2,251,480.00. Following the sale, the chief executive officer now owns 37,801 shares in the company, valued at $9,102,480.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $245.96 on Wednesday. The stock has a market cap of $13.18 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.86. Hubbell Incorporated has a fifty-two week low of $170.21 and a fifty-two week high of $263.30. The firm’s 50-day simple moving average is $240.04 and its two-hundred day simple moving average is $235.99.

Hubbell (NYSE:HUBB – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.19. Hubbell had a net margin of 11.40% and a return on equity of 25.03%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts anticipate that Hubbell Incorporated will post 11.27 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Monday, February 27th. Hubbell’s payout ratio is 43.04%.

About Hubbell

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Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.