Insight Wealth Strategies LLC Has $3.94 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Insight Wealth Strategies LLC raised its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 16.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,901 shares of the industrial products company's stock after acquiring an additional 1,699 shares during the period. Insight Wealth Strategies LLC's holdings in Hubbell were worth $3,938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Creative Financial Designs Inc. ADV grew its holdings in shares of Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after purchasing an additional 30 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell during the fourth quarter worth about $30,000. Johnson Financial Group Inc. grew its holdings in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after purchasing an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Hubbell during the fourth quarter worth about $69,000. Institutional investors own 88.16% of the company's stock.

Hubbell Trading Down 1.7%

HUBB stock traded down $6.81 during trading on Friday, hitting $390.13. The company had a trading volume of 1,127,934 shares, compared to its average volume of 542,404. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. 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 business has a 50-day moving average of $357.11 and a 200-day moving average of $393.40. The stock has a market cap of $20.82 billion, a PE ratio of 27.17, a PEG ratio of 1.34 and a beta of 0.97.

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

Hubbell declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Insider Buying and Selling at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the company'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 now directly owns 82,101 shares of the company's stock, valued at $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlos M. Cardoso sold 400 shares of the company'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 now directly owns 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. Insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HUBB. JPMorgan Chase & Co. boosted 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. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, Barclays reduced their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Hubbell has an average rating of "Hold" and a consensus price target of $457.50.

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.