Icon Wealth Advisors LLC Purchases 1,803 Shares of Hubbell Incorporated (NYSE:HUBB)

Icon Wealth Advisors LLC raised its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 553.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,129 shares of the industrial products company's stock after buying an additional 1,803 shares during the period. Icon Wealth Advisors LLC's holdings in Hubbell were worth $912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OLD National Bancorp IN raised its holdings in shares of Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock worth $255,000 after acquiring an additional 22 shares during the last quarter. CWM LLC lifted its position in shares of Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company's stock worth $482,000 after buying an additional 28 shares in the last quarter. Detalus Advisors LLC boosted its stake in shares of Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock worth $377,000 after buying an additional 30 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of 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 in the last quarter. Finally, Savant Capital LLC increased its position in shares of Hubbell by 2.6% during the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company's stock valued at $440,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Price Performance

Shares of NYSE HUBB traded up $4.33 during trading hours on Friday, reaching $460.81. 343,665 shares of the stock traded hands, compared to its average volume of 481,475. The company has a market capitalization of $24.73 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 52-week low of $293.91 and a 52-week high of $481.35. The company's 50-day simple moving average is $441.22 and its two-hundred day simple moving average is $402.22.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.95 earnings per share. Equities research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.15%. This is a boost from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio (DPR) is 35.16%.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company's stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HUBB shares. Stephens reissued an "overweight" rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered Hubbell from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Barclays boosted their target price on Hubbell from $400.00 to $402.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price target 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 boosted their price objective on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $445.56.

Hubbell Company 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.