Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Pathstone Family Office LLC

Posted by Defense World Staff on Mar 13th, 2023

Pathstone Family Office LLC raised its holdings in Hubbell Incorporated (NYSE:HUBB – Get Rating) by 49.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,018 shares of the industrial products company’s stock after purchasing an additional 1,325 shares during the period. Pathstone Family Office LLC’s holdings in Hubbell were worth $896,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. First Manhattan Co. acquired a new position in shares of Hubbell in the 1st quarter valued at approximately $28,000. IFP Advisors Inc raised its position in shares of Hubbell by 25.7% in the 3rd quarter. IFP Advisors Inc now owns 274 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 56 shares in the last quarter. Paragon Wealth Strategies LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at approximately $45,000. Beacon Capital Management LLC raised its position in shares of Hubbell by 10,466.7% in the 3rd quarter. Beacon Capital Management LLC now owns 317 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 314 shares in the last quarter. Finally, Quent Capital LLC raised its position in shares of Hubbell by 22.1% in the 3rd quarter. Quent Capital LLC now owns 254 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 46 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 9,350 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $240.80, for a total value of $2,251,480.00. Following the completion of the transaction, the chief executive officer now owns 37,801 shares of the company’s stock, valued at $9,102,480.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent analyst reports. Wolfe Research lowered Hubbell from a “peer perform” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research report on Thursday, December 1st. JPMorgan Chase & Co. raised Hubbell from an “underweight” rating to a “neutral” rating and upped their price target for the company from $200.00 to $205.00 in a research report on Wednesday, February 1st. Morgan Stanley upped their price target on Hubbell from $226.00 to $238.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. Wells Fargo & Company upped their price target on Hubbell from $221.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. Finally, UBS Group lowered Hubbell from a “neutral” rating to a “sell” rating and dropped their price target for the company from $254.00 to $225.00 in a research report on Wednesday, January 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $230.00.

Hubbell Price Performance

Shares of HUBB opened at $239.29 on Monday. The company has a market cap of $12.83 billion, a P/E ratio of 22.99, a PEG ratio of 2.12 and a beta of 1.02. The stock has a fifty day moving average price of $239.77 and a 200 day moving average price of $235.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.18. Hubbell Incorporated has a 12 month low of $170.21 and a 12 month high of $263.30.

Hubbell (NYSE:HUBB – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.19. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.24 billion. Hubbell had a return on equity of 25.03% and a net margin of 11.40%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 EPS. On average, research analysts forecast that Hubbell Incorporated will post 11.27 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $4.48 annualized dividend and a dividend yield of 1.87%. Hubbell’s payout ratio is 43.04%.

About Hubbell

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Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.