Financiere des Professionnels Fonds d investissement inc. Buys 2,461 Shares of Hubbell Inc (NYSE:HUBB)

Financiere des Professionnels Fonds d investissement inc. boosted its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,162 shares of the industrial products company's stock after purchasing an additional 2,461 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Hubbell were worth $6,341,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Huntington National Bank increased its stake in Hubbell by 3.0% in the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock valued at $371,000 after purchasing an additional 26 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Hubbell by 0.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after purchasing an additional 26 shares in the last quarter. Mindset Wealth Management LLC grew its stake in Hubbell by 1.7% during the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock valued at $693,000 after purchasing an additional 27 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Hubbell by 25.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock worth $80,000 after buying an additional 38 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the business'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 transaction, the director directly owned 1,727 shares of the company's stock, valued at $667,122.83. This represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Hubbell Stock Down 0.5%

Shares of HUBB stock traded down $2.14 on Monday, reaching $412.70. 526,067 shares of the company's stock traded hands, compared to its average volume of 532,995. Hubbell Inc has a 12-month low of $299.43 and a 12-month 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 company has a market capitalization of $22.03 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The business's 50 day moving average price is $387.73 and its two-hundred day moving average price is $382.86.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. Hubbell's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.60 EPS. On average, equities analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $1.32 dividend. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.28%. Hubbell's dividend payout ratio is currently 35.72%.

Analyst Ratings Changes

A number of research analysts have commented on HUBB shares. Barclays increased their target price on Hubbell from $400.00 to $414.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. Wells Fargo & Company set a $420.00 target price on Hubbell and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Six equities research 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, the stock has an average rating of "Hold" and a consensus target price of $455.50.

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.