Hubbell Incorporated (NYSE:HUBB) Position Increased by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group raised its stake in Hubbell Incorporated (NYSE:HUBB) by 4.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,661 shares of the industrial products company’s stock after acquiring an additional 71 shares during the period. Rehmann Capital Advisory Group’s holdings in Hubbell were worth $689,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after acquiring an additional 918,808 shares during the period. Bank of New York Mellon Corp lifted its stake in Hubbell by 14.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,743,746 shares of the industrial products company’s stock worth $723,741,000 after acquiring an additional 216,600 shares in the last quarter. International Assets Investment Management LLC boosted its position in Hubbell by 32,734.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after acquiring an additional 1,468,463 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Hubbell by 24.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after acquiring an additional 248,493 shares in the last quarter. Finally, FIL Ltd increased its holdings in shares of Hubbell by 0.6% in the 4th quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock valued at $366,925,000 after purchasing an additional 6,526 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, Director Neal J. Keating purchased 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $378.77 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hubbell news, Director Neal J. Keating acquired 500 shares of Hubbell stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the completion of the purchase, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares in the company, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,055 shares of company stock valued at $1,232,139. 0.78% of the stock is currently owned by company insiders.

Hubbell Price Performance

Shares of HUBB traded up $2.93 during trading hours on Wednesday, hitting $374.08. The stock had a trading volume of 158,744 shares, compared to its average volume of 452,043. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The company’s fifty day moving average is $384.54 and its two-hundred day moving average is $374.99. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61.

Hubbell (NYSE:HUBB) last released 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. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm posted $3.61 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts anticipate that Hubbell Incorporated will post 16.33 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, May 31st. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HUBB. Barclays lowered their price target 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. Wells Fargo & Company lowered their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Finally, Mizuho increased their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Five research 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 has a consensus rating of “Moderate Buy” and an average price target of $386.57.

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.