Blair William & Co. IL Has $7.42 Million Holdings in Hubbell Inc (NYSE:HUBB)

Key Points

• Blair William & Co. IL increased its stake in Hubbell Inc by 3.1% during Q1, now holding 22,420 shares valued at approximately $7.4 million.
• The company's recent earnings report showed an EPS of $4.93, surpassing estimates, although revenue was slightly below expectations at $1.48 billion.
• Hubbell announced a quarterly dividend of $1.32 per share, yielding approximately 1.2% with the payout ratio standing at 34.29%.

Blair William & Co. IL lifted its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,420 shares of the industrial products company's stock after acquiring an additional 666 shares during the period. Blair William & Co. IL's holdings in Hubbell were worth $7,419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Liberty Wealth Management LLC bought a new stake in Hubbell in the 1st quarter valued at $4,380,000. LGT Capital Partners LTD. lifted its position in Hubbell by 7.9% in the 1st quarter. LGT Capital Partners LTD. now owns 100,900 shares of the industrial products company's stock valued at $33,389,000 after acquiring an additional 7,430 shares in the last quarter. R Squared Ltd bought a new stake in Hubbell in the 1st quarter valued at approximately $606,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in Hubbell by 35.9% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,760 shares of the industrial products company's stock valued at $1,252,000 after acquiring an additional 994 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in Hubbell in the 1st quarter valued at approximately $631,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

Shares of HUBB traded up $1.02 during midday trading on Friday, reaching $418.86. The stock had a trading volume of 254,634 shares, compared to its average volume of 611,985. The firm has a market cap of $22.35 billion, a PE ratio of 24.55, a P/E/G ratio of 2.34 and a beta of 0.99. The firm has a 50 day simple moving average of $411.87 and a 200-day simple moving average of $383.03. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.3%. Hubbell's payout ratio is presently 34.29%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HUBB. Barclays boosted 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. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company boosted their target price on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $462.29.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 7,723 shares of the business'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 transaction, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $667,122.83. The trade was a 18.81% 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.

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.