Hubbell Inc (NYSE:HUBB) Stock Holdings Increased by Smith Group Asset Management LLC

Smith Group Asset Management LLC grew its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,386 shares of the industrial products company's stock after buying an additional 2,344 shares during the period. Hubbell accounts for 1.7% of Smith Group Asset Management LLC's investment portfolio, making the stock its 29th biggest position. Smith Group Asset Management LLC owned approximately 0.13% of Hubbell worth $22,961,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Hubbell during the 4th quarter worth about $195,218,000. Marshall Wace LLP boosted its stake in shares of Hubbell by 418.1% during the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock worth $128,620,000 after purchasing an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Hubbell during the fourth quarter worth about $95,868,000. GAMMA Investing LLC raised its position in shares of Hubbell by 52,429.8% in the first 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 during the last quarter. Finally, PointState Capital LP purchased a new position in shares of Hubbell during the fourth quarter valued at approximately $78,443,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction that occurred 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 owned 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were 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 $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Hubbell Trading Up 1.1%

Shares of NYSE HUBB traded up $4.72 during midday trading on Wednesday, hitting $415.23. The stock had a trading volume of 381,523 shares, compared to its average volume of 532,841. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. Hubbell Inc has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.44 and a beta of 0.99. The company has a fifty day moving average price of $384.47 and a 200 day moving average price of $383.99.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the prior year, the business posted $3.60 EPS. The business's revenue was down 2.4% on a year-over-year basis. On average, analysts predict 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. Investors of record on Friday, May 30th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.27%. The ex-dividend date was Friday, May 30th. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Analyst Upgrades and Downgrades

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