Czech National Bank Purchases 689 Shares of Hubbell Incorporated (NYSE:HUBB)

Czech National Bank increased its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,326 shares of the industrial products company's stock after acquiring an additional 689 shares during the quarter. Czech National Bank's holdings in Hubbell were worth $4,079,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV grew its stake in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Hubbell during the 4th quarter worth approximately $30,000. Johnson Financial Group Inc. boosted its stake in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after buying an additional 65 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Hubbell during the fourth quarter valued at approximately $69,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HUBB shares. Barclays cut their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of "Hold" and a consensus target price of $457.50.

Insider Activity

In other news, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $2,970,497.49. Following the transaction, the chief executive officer now directly owns 82,101 shares in the company, valued at $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Hubbell Price Performance

Shares of HUBB traded up $6.03 during midday trading on Friday, hitting $394.64. 232,884 shares of the company traded hands, compared to its average volume of 675,206. Hubbell Incorporated has a one year low of $299.42 and a one year high of $481.35. The firm has a market cap of $21.06 billion, a P/E ratio of 27.48, a PEG ratio of 1.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock has a 50-day moving average of $361.11 and a 200-day moving average of $391.85.

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

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.34%. Hubbell's payout ratio is currently 35.72%.

Hubbell announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes 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 management 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.