HM Payson & Co. Has $59.82 Million Holdings in Hubbell Inc (NYSE:HUBB)

HM Payson & Co. boosted its position in Hubbell Inc (NYSE:HUBB - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,758 shares of the industrial products company's stock after acquiring an additional 28,718 shares during the quarter. HM Payson & Co. owned 0.34% of Hubbell worth $59,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional acquired a new stake in Hubbell during the first quarter worth approximately $49,000. Smartleaf Asset Management LLC increased its holdings in shares of Hubbell by 25.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 38 shares during the period. GAMMA Investing LLC increased its holdings in shares of Hubbell by 58.7% in the 1st quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock valued at $192,000 after acquiring an additional 215 shares during the period. UMB Bank n.a. increased its holdings in shares of Hubbell by 21.1% in the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 56 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Hubbell by 43.6% in the 1st quarter. Blue Trust Inc. now owns 382 shares of the industrial products company's stock valued at $126,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Price Performance

Shares of NYSE HUBB traded down $0.31 during trading on Friday, hitting $414.82. 315,849 shares of the company were exchanged, compared to its average volume of 532,986. The company has a market cap of $22.14 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 1.45 and a beta of 0.99. Hubbell Inc has a 1 year low of $299.43 and a 1 year high of $481.35. The firm's fifty day moving average price is $386.64 and its 200 day moving average price is $383.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73.

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

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 annualized dividend and a yield of 1.27%. Hubbell's payout ratio is 35.72%.

Analyst Ratings Changes

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

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction 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. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the firm'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 in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

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.