Crossmark Global Holdings Inc. Purchases 2,226 Shares of Hubbell Inc (NYSE:HUBB)

Crossmark Global Holdings Inc. increased its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 101.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,417 shares of the industrial products company's stock after purchasing an additional 2,226 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Hubbell were worth $1,462,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. Fullcircle Wealth LLC acquired a new stake in shares of Hubbell in the first quarter valued at approximately $252,000. Financiere des Professionnels Fonds d investissement inc. lifted its stake in Hubbell by 14.7% in the 1st quarter. Financiere des Professionnels Fonds d investissement inc. now owns 19,162 shares of the industrial products company's stock valued at $6,341,000 after purchasing an additional 2,461 shares during the last quarter. HM Payson & Co. grew its holdings in Hubbell by 18.9% during the first quarter. HM Payson & Co. now owns 180,758 shares of the industrial products company's stock worth $59,815,000 after purchasing an additional 28,718 shares during the period. Bank of New York Mellon Corp increased its position in Hubbell by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock worth $937,623,000 after buying an additional 7,142 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Hubbell in the first quarter valued at approximately $96,000. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company set a $420.00 target price on Hubbell and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Barclays upped their price objective on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a report on Wednesday. Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $456.25.

Hubbell Stock Performance

NYSE:HUBB traded down $3.08 during mid-day trading on Friday, reaching $419.18. 521,464 shares of the company's stock were exchanged, compared to its average volume of 536,423. Hubbell Inc has a one year low of $299.43 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. The business's fifty day simple moving average is $392.77 and its two-hundred day simple moving average is $382.53. The firm has a market capitalization of $22.37 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results 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). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The firm'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 posted $3.60 earnings per share. Analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $1.32 per share. The ex-dividend date was Friday, May 30th. This represents a $5.28 annualized dividend and a yield of 1.26%. Hubbell's dividend payout ratio is 35.72%.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

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.