Hubbell Inc (NYSE:HUBB) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Hubbell Inc (NYSE:HUBB - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,833,469 shares of the industrial products company's stock after purchasing an additional 7,142 shares during the period. Bank of New York Mellon Corp owned 5.28% of Hubbell worth $937,623,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of HUBB. SVB Wealth LLC purchased a new stake in shares of Hubbell in the fourth quarter valued at approximately $207,000. Smartleaf Asset Management LLC boosted its holdings in shares of Hubbell by 25.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 38 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Hubbell by 168.4% in the fourth quarter. Jones Financial Companies Lllp now owns 883 shares of the industrial products company's stock valued at $370,000 after purchasing an additional 554 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Hubbell by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,689 shares of the industrial products company's stock valued at $1,964,000 after purchasing an additional 101 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Hubbell by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,648 shares of the industrial products company's stock valued at $130,546,000 after purchasing an additional 8,747 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Down 0.5%

Shares of HUBB traded down $2.14 during midday trading on Monday, hitting $412.70. 526,067 shares of the company's stock traded hands, compared to its average volume of 532,995. Hubbell Inc has a 1 year low of $299.43 and a 1 year high of $481.35. The firm's fifty day moving average is $387.73 and its 200-day moving average is $382.86. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99.

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

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.28%. Hubbell's dividend payout ratio is presently 35.72%.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the sale, the director owned 1,727 shares in the company, valued at approximately $667,122.83. This represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the transaction, the chief executive officer directly owned 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HUBB shares. JPMorgan Chase & Co. upped their target price on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays upped their target price on Hubbell from $400.00 to $414.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company set a $420.00 target price on Hubbell and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Hubbell presently has an average rating of "Hold" and a consensus price target of $455.50.

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.