DekaBank Deutsche Girozentrale Acquires 2,822 Shares of Hubbell Incorporated (NYSE:HUBB)

DekaBank Deutsche Girozentrale grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,227 shares of the industrial products company’s stock after acquiring an additional 2,822 shares during the period. DekaBank Deutsche Girozentrale owned 0.18% of Hubbell worth $40,731,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nvwm LLC bought a new position in Hubbell in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Hubbell during the fourth quarter worth about $33,000. Finally, Principal Securities Inc. purchased a new stake in Hubbell in the fourth quarter valued at approximately $40,000. 88.16% of the stock is owned by institutional investors.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the transaction, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the transaction, the insider now owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the sale, the insider now directly owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,055 shares of company stock worth $1,232,139. Company insiders own 0.66% of the company’s stock.

Hubbell Trading Down 3.6 %

Shares of HUBB traded down $13.58 during trading hours on Friday, hitting $366.19. The company had a trading volume of 599,728 shares, compared to its average volume of 556,012. The firm has a market cap of $19.66 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.43 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The stock’s 50 day moving average price is $376.65 and its 200 day moving average price is $380.74. The company has a quick ratio of 1.03, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The business had revenue of $1.45 billion for 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%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.07 EPS. On average, research analysts predict that Hubbell Incorporated will post 16.38 EPS for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Analyst Ratings Changes

A number of research firms have commented on HUBB. Wells Fargo & Company boosted their price target on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday. Barclays dropped their price target on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $402.57.

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.