SeaCrest Wealth Management LLC Has $4.78 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

SeaCrest Wealth Management LLC raised its position in Hubbell Incorporated (NYSE:HUBB) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,035 shares of the industrial products company’s stock after acquiring an additional 215 shares during the period. Hubbell makes up about 0.6% of SeaCrest Wealth Management LLC’s holdings, making the stock its 29th largest position. SeaCrest Wealth Management LLC’s holdings in Hubbell were worth $4,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HUBB. MJP Associates Inc. ADV raised its holdings in shares of Hubbell by 2.8% in the 4th quarter. MJP Associates Inc. ADV now owns 2,505 shares of the industrial products company’s stock worth $824,000 after acquiring an additional 68 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Hubbell by 137.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 88,657 shares of the industrial products company’s stock worth $29,162,000 after purchasing an additional 51,258 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Hubbell in the fourth quarter valued at approximately $216,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Hubbell by 117.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 20,456 shares of the industrial products company’s stock valued at $6,729,000 after buying an additional 11,046 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Hubbell by 8.1% during the fourth quarter. Raymond James & Associates now owns 51,069 shares of the industrial products company’s stock worth $16,798,000 after buying an additional 3,815 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB traded up $1.19 during trading on Friday, hitting $415.05. 290,930 shares of the company’s stock traded hands, compared to its average volume of 462,246. The stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The business has a 50 day moving average of $371.03 and a 200-day moving average of $329.09. Hubbell Incorporated has a 12-month low of $219.77 and a 12-month high of $419.64.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $2.60 EPS. Hubbell’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $1.22 per share. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a yield of 1.18%. Hubbell’s dividend payout ratio (DPR) is 34.73%.

Insiders Place Their Bets

In related news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the sale, the vice president now owns 3,646 shares in the company, valued at approximately $1,286,090.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now owns 9,355 shares in the company, valued at $3,297,731.05. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock worth $12,065,100 in the last quarter. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HUBB. Wells Fargo & Company lifted their price objective on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock. TD Cowen initiated coverage on Hubbell in a research note on Friday, December 8th. They issued an “outperform” rating and a $338.00 price objective for the company. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Mizuho raised their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.00.

About Hubbell

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.