Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,838 shares of the industrial products company's stock after buying an additional 7,125 shares during the period. Rhumbline Advisers owned about 0.19% of Hubbell worth $34,361,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HUBB. Creative Financial Designs Inc. ADV boosted its position in Hubbell by 85.7% during the 4th 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 in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Hubbell during the 4th quarter worth $30,000. Johnson Financial Group Inc. boosted its position in Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after buying an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Hubbell in the fourth quarter valued at approximately $69,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Shares of NYSE:HUBB traded up $6.92 during trading on Friday, hitting $395.53. 391,942 shares of the stock traded hands, compared to its average volume of 539,026. The company has a fifty day moving average price of $361.11 and a two-hundred day moving average price of $391.85. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week high of $481.35. The company has a market cap of $21.11 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 1.34 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last released 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). The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.60 EPS. As a group, equities analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, May 30th. Hubbell's payout ratio is 35.72%.

Hubbell declared that its board has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Barclays dropped their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $457.50.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the company'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 now directly owns 1,727 shares in the company, valued at $667,122.83. This represents a 18.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 82,101 shares in the company, 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. 0.66% of the stock is owned by corporate insiders.

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.