Clean Yield Group Acquires 1,662 Shares of Hubbell Incorporated (NYSE:HUBB)

Clean Yield Group lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 19.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,025 shares of the industrial products company's stock after purchasing an additional 1,662 shares during the period. Clean Yield Group's holdings in Hubbell were worth $3,317,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in Hubbell in the fourth quarter valued at about $195,218,000. Marshall Wace LLP boosted its holdings in Hubbell by 418.1% in the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock valued at $128,620,000 after acquiring an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Hubbell in the fourth quarter valued at about $95,868,000. GAMMA Investing LLC boosted its holdings in Hubbell by 52,429.8% in the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after acquiring an additional 191,893 shares during the last quarter. Finally, PointState Capital LP bought a new position in Hubbell in the fourth quarter valued at about $78,443,000. Institutional investors own 88.16% of the company's stock.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell 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 sale, the chief executive officer now owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $154,516.00. Following the completion of the sale, the director now directly owns 1,727 shares in the company, valued at approximately $667,122.83. This represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent research reports. Barclays decreased their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. raised 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $457.50.

Hubbell Price Performance

Shares of HUBB opened at $395.53 on Friday. The stock has a market cap of $21.11 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. 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 stock's 50-day moving average price is $362.37 and its two-hundred day moving average price is $391.08. 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 quarterly 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). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.60 EPS. On average, equities analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's dividend payout ratio is currently 35.72%.

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.

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