Golden State Wealth Management LLC Acquires 644 Shares of Hubbell Inc (NYSE:HUBB)

Golden State Wealth Management LLC raised its position in Hubbell Inc (NYSE:HUBB - Free Report) by 390.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 809 shares of the industrial products company's stock after purchasing an additional 644 shares during the period. Golden State Wealth Management LLC's holdings in Hubbell were worth $268,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. New York Life Investment Management LLC raised its position in shares of Hubbell by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 7,285 shares of the industrial products company's stock valued at $3,052,000 after buying an additional 65 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Hubbell by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 20,900 shares of the industrial products company's stock valued at $8,755,000 after buying an additional 400 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Hubbell by 3.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 1,363 shares of the industrial products company's stock valued at $571,000 after buying an additional 42 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Hubbell during the 4th quarter valued at $40,533,000. Finally, Versor Investments LP purchased a new stake in shares of Hubbell during the 4th quarter valued at $754,000. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on HUBB shares. Barclays raised their price objective on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. 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 research report on Friday, May 16th. Finally, Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $459.25.

Insider Buying and Selling

In other news, Director Carlos M. Cardoso sold 400 shares of the company's 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 transaction, the director now owns 1,727 shares in the company, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the company's 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 completion of the transaction, the chief executive officer now owns 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Hubbell Price Performance

Shares of Hubbell stock opened at $406.58 on Friday. The firm has a market cap of $21.70 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Hubbell Inc has a 12-month low of $299.43 and a 12-month high of $481.35. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The company's fifty day simple moving average is $378.73 and its two-hundred day simple moving average is $385.18.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly 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). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. Hubbell's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's 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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