Nordwand Advisors LLC lowered its position in shares of Hubbell Incorporated (NYSE:HUBB – Free Report) by 6.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 12,290 shares of the industrial products company’s stock after selling 857 shares during the quarter. Hubbell comprises about 0.7% of Nordwand Advisors LLC’s portfolio, making the stock its 12th largest position. Nordwand Advisors LLC’s holdings in Hubbell were worth $4,075,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in HUBB. Greenleaf Trust purchased a new position in Hubbell in the first quarter valued at $205,000. LPL Financial LLC boosted its position in Hubbell by 74.8% during the first quarter. LPL Financial LLC now owns 20,283 shares of the industrial products company’s stock worth $4,935,000 after purchasing an additional 8,679 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Hubbell in the first quarter valued at approximately $76,000. Illinois Municipal Retirement Fund increased its position in shares of Hubbell by 57.2% in the first quarter. Illinois Municipal Retirement Fund now owns 4,827 shares of the industrial products company’s stock valued at $1,174,000 after buying an additional 1,756 shares in the last quarter. Finally, FIL Ltd lifted its position in shares of Hubbell by 9.8% during the 1st quarter. FIL Ltd now owns 1,360,844 shares of the industrial products company’s stock valued at $331,107,000 after buying an additional 121,787 shares in the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Hubbell Price Performance
Shares of HUBB stock traded up $5.43 during trading hours on Thursday, reaching $286.87. The company had a trading volume of 50,310 shares, compared to its average volume of 499,149. Hubbell Incorporated has a 12-month low of $219.77 and a 12-month high of $340.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.16. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.83 and a beta of 0.93. The stock has a fifty day moving average of $302.91 and a 200-day moving average of $303.79.
Hubbell Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $1.22 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 29th. This represents a $4.88 annualized dividend and a dividend yield of 1.70%. Hubbell’s dividend payout ratio is 34.04%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on HUBB shares. StockNews.com initiated coverage on shares of Hubbell in a report on Thursday, October 5th. They set a “buy” rating on the stock. Wolfe Research upgraded Hubbell from an “underperform” rating to a “peer perform” rating in a report on Friday, August 11th. Mizuho raised their target price on Hubbell from $300.00 to $370.00 in a research report on Wednesday, July 26th. Finally, Stephens reiterated an “overweight” rating and set a $375.00 price target on shares of Hubbell in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $280.86.
Insider Transactions at Hubbell
In other news, VP Nero Jonathan M. Del sold 1,902 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $285.54, for a total transaction of $543,097.08. Following the completion of the transaction, the vice president now directly owns 3,646 shares in the company, valued at approximately $1,041,078.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.
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.
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