Stephens Investment Management Group LLC Purchases 2,737 Shares of Hubbell Inc (NYSE:HUBB)

Stephens Investment Management Group LLC lifted its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,163 shares of the industrial products company's stock after purchasing an additional 2,737 shares during the period. Stephens Investment Management Group LLC owned about 0.24% of Hubbell worth $42,410,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its holdings in Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares during the last quarter. Tsfg LLC bought a new stake in Hubbell in the first quarter valued at approximately $30,000. Johnson Financial Group Inc. boosted its holdings in Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares during the last quarter. CX Institutional bought a new stake in Hubbell in the first quarter valued at approximately $49,000. Finally, NBC Securities Inc. bought a new stake in Hubbell in the first quarter valued at approximately $49,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Down 0.7%

Shares of NYSE:HUBB traded down $3.08 during trading on Friday, reaching $419.18. 521,464 shares of the stock were exchanged, compared to its average volume of 536,423. 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 Inc has a 1-year low of $299.43 and a 1-year high of $481.35. The stock has a fifty day moving average of $392.77 and a two-hundred day moving average of $382.86. The firm has a market cap of $22.37 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly 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 company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the previous year, the company posted $3.60 earnings per share. The company's quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts anticipate 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. Shareholders 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 dividend yield of 1.26%. Hubbell's payout ratio is currently 35.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HUBB shares. Barclays increased their price target on Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a report on Wednesday. Wells Fargo & Company set a $420.00 price target on Hubbell and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. increased their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a 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 company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $456.25.

Insider Activity

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell 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 sale, the chief executive officer directly owned 82,101 shares in the company, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction 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 completion of the sale, the director directly 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 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.