Insight Wealth Strategies LLC Buys New Holdings in Hubbell Incorporated (NYSE:HUBB)

Insight Wealth Strategies LLC purchased a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,872 shares of the industrial products company's stock, valued at approximately $4,229,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. Nvwm LLC purchased a new stake in Hubbell in the first quarter worth $25,000. Quarry LP bought a new position in Hubbell in the second quarter worth $49,000. Riverview Trust Co bought a new position in Hubbell in the first quarter worth $52,000. Northwest Investment Counselors LLC bought a new position in Hubbell in the first quarter worth $56,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Hubbell in the second quarter worth $62,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insiders Place Their Bets

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company's stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Hubbell Stock Performance

NYSE HUBB traded up $2.68 during trading hours on Tuesday, hitting $441.11. The company's stock had a trading volume of 329,116 shares, compared to its average volume of 448,317. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $442.36. The company's 50 day simple moving average is $395.66 and its two-hundred day simple moving average is $391.16. The company has a market cap of $23.68 billion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $4.07 EPS. Hubbell's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.11%. Hubbell's payout ratio is 36.39%.

Analysts Set New Price Targets

A number of research firms have issued reports on HUBB. Stephens reiterated an "overweight" rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a "hold" rating to a "buy" rating and increased their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Morgan Stanley initiated coverage on Hubbell in a report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 price objective for the company. JPMorgan Chase & Co. raised their price target on Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on Hubbell from $400.00 to $445.00 and gave the company an "equal weight" rating in a report on Monday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $414.50.

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.