Boston Common Asset Management LLC Invests $3.26 Million in Hubbell Incorporated (NYSE:HUBB)

Boston Common Asset Management LLC bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 9,864 shares of the industrial products company's stock, valued at approximately $3,264,000.

Other institutional investors have also recently made changes to their positions in the company. Insight Wealth Strategies LLC raised its holdings in shares of Hubbell by 16.7% in the first quarter. Insight Wealth Strategies LLC now owns 11,901 shares of the industrial products company's stock valued at $3,938,000 after purchasing an additional 1,699 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Hubbell by 49.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 341 shares of the industrial products company's stock valued at $113,000 after purchasing an additional 113 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Hubbell by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 81,619 shares of the industrial products company's stock worth $34,189,000 after purchasing an additional 980 shares during the last quarter. Siemens Fonds Invest GmbH grew its position in shares of Hubbell by 2,390.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 14,021 shares of the industrial products company's stock valued at $5,873,000 after purchasing an additional 13,458 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Hubbell during the 4th quarter valued at about $13,908,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Barclays lowered their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Hubbell has a consensus rating of "Hold" and a consensus price target of $457.50.

Insider Buying and Selling

In other Hubbell 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 value of $154,516.00. Following the completion of the sale, the director now owns 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 filing with the SEC, which is accessible through the SEC website. Also, 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 value of $2,970,497.49. Following the completion of the sale, the chief executive officer now owns 82,101 shares of the company's stock, valued at $31,578,507.63. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

Hubbell Stock Down 1.7%

Hubbell stock traded down $6.81 on Friday, hitting $390.13. 1,127,934 shares of the stock traded hands, compared to its average volume of 541,699. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a market cap of $20.82 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The business's fifty day simple moving average is $357.11 and its 200 day simple moving average is $392.98. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last released 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). The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.60 earnings per share. As a group, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. Hubbell's payout ratio is currently 35.72%.

Hubbell announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Hubbell 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.