Massmutual Trust Co. FSB ADV Boosts Stock Position in Hubbell Incorporated (NYSE:HUBB)

Massmutual Trust Co. FSB ADV grew its position in Hubbell Incorporated (NYSE:HUBB) by 23.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 184 shares of the industrial products company’s stock after acquiring an additional 35 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Hubbell were worth $67,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of Hubbell by 4.1% during the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after buying an additional 6,275 shares during the last quarter. Van Leeuwen & Company LLC raised its holdings in Hubbell by 59.8% in the 4th quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company’s stock valued at $2,719,000 after buying an additional 3,092 shares during the period. Chevy Chase Trust Holdings LLC lifted its position in Hubbell by 265.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock valued at $13,563,000 after buying an additional 29,959 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Hubbell during the fourth quarter worth about $1,258,000. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Hubbell during the fourth quarter valued at about $636,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB traded down $3.39 on Tuesday, hitting $361.03. 408,955 shares of the company’s stock were exchanged, compared to its average volume of 469,195. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 1.43 and a beta of 0.90. The firm’s 50-day moving average price is $376.65 and its two-hundred day moving average price is $381.16. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.03.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $4.07 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that Hubbell Incorporated will post 16.38 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several research reports. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday. Barclays decreased their price target on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $402.57.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,942 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the transaction, the insider now directly owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the transaction, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Eugene Mikes sold 1,942 shares of the company’s 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 sale, the insider now owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,055 shares of company stock valued at $1,232,139. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Company Profile

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.