Board of the Pension Protection Fund Makes New Investment in Hubbell Inc (NYSE:HUBB)

Board of the Pension Protection Fund acquired a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,400 shares of the industrial products company's stock, valued at approximately $794,000.

Several other large investors have also recently made changes to their positions in HUBB. Y Intercept Hong Kong Ltd purchased a new position in Hubbell during the 4th quarter valued at approximately $1,130,000. Advisor OS LLC bought a new position in shares of Hubbell during the 4th quarter valued at approximately $489,000. Walter Public Investments Inc. purchased a new position in shares of Hubbell in the fourth quarter valued at $5,823,000. Robeco Schweiz AG grew its holdings in shares of Hubbell by 98.1% in the fourth quarter. Robeco Schweiz AG now owns 10,700 shares of the industrial products company's stock valued at $4,482,000 after purchasing an additional 5,300 shares in the last quarter. Finally, New York Life Investment Management LLC increased its position in Hubbell by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 7,285 shares of the industrial products company's stock worth $3,052,000 after purchasing an additional 65 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays increased their price objective on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. lifted their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report 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 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.com, the stock has an average rating of "Hold" and a consensus target price of $459.25.

Hubbell Trading Up 0.3%

Shares of HUBB stock traded up $1.32 during trading hours on Friday, reaching $406.58. 562,257 shares of the stock were exchanged, compared to its average volume of 539,418. The firm has a market capitalization of $21.70 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. Hubbell Inc has a 12-month low of $299.43 and a 12-month high of $481.35. The company's 50-day moving average price is $378.73 and its 200-day moving average price is $385.18. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (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 last year, the firm earned $3.60 EPS. The firm's quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given 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 1.30%. Hubbell's dividend payout ratio (DPR) is 35.72%.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the sale, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

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.