B. Riley Wealth Advisors Inc. Takes Position in Hubbell Incorporated (NYSE:HUBB)

B. Riley Wealth Advisors Inc. bought a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,699 shares of the industrial products company's stock, valued at approximately $727,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OLD National Bancorp IN lifted its holdings in Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock worth $255,000 after buying an additional 22 shares in the last quarter. Avestar Capital LLC lifted its stake in shares of Hubbell by 5.1% during the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company's stock valued at $247,000 after acquiring an additional 28 shares during the period. Detalus Advisors LLC boosted its holdings in Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock valued at $377,000 after acquiring an additional 30 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company's stock valued at $410,000 after acquiring an additional 30 shares during the last quarter. Finally, Savant Capital LLC increased its position in Hubbell by 2.6% in the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company's stock worth $440,000 after purchasing an additional 31 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now owns 2,957 shares of the company's stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HUBB shares. StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Barclays increased their price target on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Morgan Stanley lifted their price objective on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $472.13.

Hubbell Stock Down 0.2 %

Shares of NYSE HUBB traded down $0.87 during mid-day trading on Thursday, reaching $424.55. 469,090 shares of the company's stock were exchanged, compared to its average volume of 438,455. Hubbell Incorporated has a twelve month low of $315.38 and a twelve month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 1.70 and a beta of 0.91. The business has a fifty day simple moving average of $451.69 and a 200 day simple moving average of $409.29.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.95 EPS. As a group, equities analysts expect that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $1.32 dividend. The ex-dividend date was Friday, November 29th. This is a positive change from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.24%. Hubbell's dividend payout ratio is presently 38.04%.

Hubbell Profile

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.