HM Payson & Co. Has $61.05 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

HM Payson & Co. lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 88.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,512 shares of the industrial products company's stock after purchasing an additional 66,797 shares during the quarter. HM Payson & Co. owned about 0.27% of Hubbell worth $61,045,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Hubbell by 7.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,176 shares of the industrial products company's stock valued at $1,318,000 after buying an additional 212 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Hubbell by 28.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,597 shares of the industrial products company's stock valued at $663,000 after acquiring an additional 356 shares during the last quarter. Diversified Trust Co grew its position in Hubbell by 56.2% during the first quarter. Diversified Trust Co now owns 1,417 shares of the industrial products company's stock valued at $588,000 after acquiring an additional 510 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Hubbell by 8.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,437 shares of the industrial products company's stock worth $1,842,000 after acquiring an additional 345 shares during the last quarter. Finally, Norden Group LLC purchased a new position in shares of Hubbell in the 1st quarter worth about $261,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

HUBB has been the subject of several analyst reports. Stephens reaffirmed an "overweight" rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut shares of Hubbell from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley lifted their target price on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Mizuho raised 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. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $434.38.

Hubbell Stock Performance

Shares of HUBB stock traded down $4.63 during mid-day trading on Thursday, reaching $427.03. The stock had a trading volume of 447,835 shares, compared to its average volume of 442,486. Hubbell Incorporated has a one year low of $248.37 and a one year high of $461.77. The firm has a market cap of $22.93 billion, a PE ratio of 31.69, a P/E/G ratio of 1.66 and a beta of 0.90. The firm's 50 day simple moving average is $419.94 and its 200 day simple moving average is $395.41. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB - Get Free Report) last issued 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 28.98% and a net margin of 13.14%. Hubbell's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.95 EPS. On average, analysts forecast that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This is an increase from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.24%. Hubbell's dividend payout ratio (DPR) is presently 36.39%.

Insider Activity at Hubbell

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

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.