Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating Acquires 500 Shares

Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating acquired 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hubbell Stock Performance

Shares of NYSE HUBB traded up $5.06 during mid-day trading on Tuesday, hitting $393.06. 456,149 shares of the company were exchanged, compared to its average volume of 430,749. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The firm has a market cap of $21.08 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. The stock has a 50 day simple moving average of $398.42 and a 200-day simple moving average of $346.68. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.06. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.61 earnings per share. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.35 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s dividend payout ratio is presently 36.39%.

Analyst Ratings Changes

HUBB has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho upped their target price on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. Finally, Barclays cut their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $386.57.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HUBB. Chevy Chase Trust Holdings LLC increased its stake in Hubbell by 265.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock valued at $13,563,000 after purchasing an additional 29,959 shares in the last quarter. Nordea Investment Management AB grew its stake in Hubbell by 119.0% in the 4th quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock valued at $50,388,000 after acquiring an additional 83,581 shares during the last quarter. PFG Advisors purchased a new position in Hubbell during the 4th quarter valued at about $1,108,000. Raymond James Financial Services Advisors Inc. raised its position in 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 worth $6,729,000 after acquiring an additional 11,046 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. lifted its holdings in shares of Hubbell by 23.9% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,096 shares of the industrial products company’s stock valued at $5,623,000 after purchasing an additional 3,293 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.