Exchange Traded Concepts LLC Has $4.85 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Exchange Traded Concepts LLC lifted its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 65.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,658 shares of the industrial products company's stock after buying an additional 5,810 shares during the quarter. Exchange Traded Concepts LLC's holdings in Hubbell were worth $4,850,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its position in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares during the last quarter. Johnson Financial Group Inc. lifted 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 valued at $44,000 after purchasing an additional 65 shares during the period. NBC Securities Inc. bought a new stake in shares of Hubbell during the 1st quarter valued at about $49,000. CX Institutional acquired a new stake in Hubbell during the first quarter worth approximately $49,000. Finally, Venturi Wealth Management LLC increased its holdings in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after purchasing an additional 53 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of the 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 completion of the sale, the director now directly owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell 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 sale, the chief executive officer now 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. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research analyst reports. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. JPMorgan Chase & Co. increased their target price 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. Finally, Barclays lifted their price target on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $459.25.

Hubbell Stock Performance

HUBB opened at $382.01 on Monday. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a market cap of $20.39 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.34 and a beta of 0.99. The company's fifty day moving average price is $368.98 and its two-hundred day moving average price is $388.09. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

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 for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). The business had revenue of $1.37 billion during 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 was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.60 EPS. On average, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 annualized dividend and a yield of 1.38%. Hubbell's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.