Harfst & Associates Inc. Makes New Investment in Hubbell Inc $HUBB

Key Points

• Harfst & Associates Inc. acquired 1,976 shares of Hubbell Inc, valued at approximately $654,000, during the 1st quarter according to a recent SEC filing.
• Hubbell reported $4.93 earnings per share for the last quarter, exceeding analysts' expectations of $4.36.
• The company announced a quarterly dividend of $1.32 per share, with an annual yield of 1.2%, to be paid on September 15th.

Harfst & Associates Inc. purchased a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,976 shares of the industrial products company's stock, valued at approximately $654,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HUBB. Nuveen LLC bought a new position in Hubbell during the 1st quarter valued at approximately $213,283,000. Deutsche Bank AG increased its position in Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after buying an additional 287,047 shares in the last quarter. Marshall Wace LLP increased its position in Hubbell by 418.1% during the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock valued at $128,620,000 after buying an additional 247,786 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Hubbell during the 4th quarter valued at approximately $95,868,000. Finally, GAMMA Investing LLC increased its position in Hubbell by 52,429.8% during the 1st quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after buying an additional 191,893 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

Shares of HUBB stock traded up $4.94 during trading hours on Monday, hitting $432.59. The stock had a trading volume of 366,349 shares, compared to its average volume of 634,204. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The stock's 50-day moving average price is $416.13 and its two-hundred day moving average price is $382.25. The stock has a market capitalization of $22.99 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.39 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. Equities analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell's payout ratio is 34.29%.

Insider Activity

In other news, Director Carlos M. Cardoso sold 400 shares of Hubbell 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 sale, the director directly owned 1,727 shares of the company's stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HUBB. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wells Fargo & Company raised their price objective on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Barclays increased their target price on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $462.29.

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.