Argonautica Private Wealth Management Inc. Invests $244,000 in Hubbell Inc (NYSE:HUBB)

Argonautica Private Wealth Management Inc. acquired a new stake in Hubbell Inc (NYSE:HUBB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 736 shares of the industrial products company's stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in shares of Hubbell during the fourth quarter valued at approximately $210,000. LPL Financial LLC increased its stake in shares of Hubbell by 12.2% during the fourth quarter. LPL Financial LLC now owns 25,158 shares of the industrial products company's stock valued at $10,538,000 after buying an additional 2,742 shares during the period. Corebridge Financial Inc. increased its stake in shares of Hubbell by 0.8% during the fourth quarter. Corebridge Financial Inc. now owns 13,602 shares of the industrial products company's stock valued at $5,698,000 after buying an additional 114 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Hubbell by 2.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,402 shares of the industrial products company's stock valued at $13,154,000 after buying an additional 846 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new position in shares of Hubbell during the fourth quarter valued at approximately $320,000. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Up 1.2%

Shares of NYSE HUBB traded up $5.11 during trading on Friday, reaching $442.61. The company had a trading volume of 489,931 shares, compared to its average volume of 486,468. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The stock has a market cap of $23.62 billion, a PE ratio of 29.95, a P/E/G ratio of 2.52 and a beta of 0.99. The business's 50-day moving average is $403.49 and its 200 day moving average is $383.25. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the prior year, the company posted $3.60 earnings per share. The company's revenue was down 2.4% on a year-over-year basis. As a group, equities analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.19%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Insider Buying and Selling at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the sale, the chief executive officer directly owned 82,101 shares of the company's stock, valued at $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the sale, the director directly owned 1,727 shares of the company's stock, valued at $667,122.83. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company set a $420.00 target price on Hubbell and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Barclays upped their price target on Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and an average price target of $456.25.

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.