Hubbell Incorporated (NYSE:HUBB) Shares Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC increased its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,308 shares of the industrial products company's stock after acquiring an additional 1,261 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Hubbell were worth $6,389,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in HUBB. Smartleaf Asset Management LLC raised its holdings in shares of Hubbell by 25.0% during the fourth 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 last quarter. Atria Wealth Solutions Inc. increased its position in shares of Hubbell by 4.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,838 shares of the industrial products company's stock worth $770,000 after purchasing an additional 82 shares in the last quarter. Janus Henderson Group PLC raised its stake in Hubbell by 1.8% in the 4th quarter. Janus Henderson Group PLC now owns 7,130 shares of the industrial products company's stock valued at $2,988,000 after purchasing an additional 123 shares during the last quarter. Savant Capital LLC raised its stake in Hubbell by 5.6% in the 4th quarter. Savant Capital LLC now owns 1,329 shares of the industrial products company's stock valued at $557,000 after purchasing an additional 71 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Hubbell by 551.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,985 shares of the industrial products company's stock valued at $1,250,000 after purchasing an additional 2,527 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 2.3%

Hubbell stock traded down $9.03 during midday trading on Friday, hitting $382.01. 447,150 shares of the stock were exchanged, compared to its average volume of 536,803. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock's 50-day simple moving average is $367.69 and its 200 day simple moving average is $389.61. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.34 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $3.60 EPS. On average, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Analysts Set New Price Targets

HUBB has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays upped their price objective on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Finally, Wall Street Zen downgraded shares of 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 given a buy rating to the company's stock. According to data from MarketBeat, Hubbell currently has a consensus rating of "Hold" and an average target price of $459.25.

Insider Transactions at Hubbell

In related 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 value of $154,516.00. Following the completion of the sale, the director now owns 1,727 shares in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the transaction, the chief executive officer now owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This represents 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.

About Hubbell

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.