Kentucky Retirement Systems Insurance Trust Fund Invests $515,000 in Hubbell Inc (NYSE:HUBB)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,557 shares of the industrial products company's stock, valued at approximately $515,000.

A number of other large investors have also made changes to their positions in the company. CX Institutional acquired a new position in shares of Hubbell during the 1st quarter worth $49,000. Smartleaf Asset Management LLC increased its stake in shares of Hubbell by 25.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock worth $80,000 after purchasing an additional 38 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Hubbell by 21.1% during the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company's stock worth $107,000 after purchasing an additional 56 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Hubbell by 4.7% during the 4th 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 during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Hubbell by 1.8% during the 4th quarter. Janus Henderson Group PLC now owns 7,130 shares of the industrial products company's stock worth $2,988,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Activity

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction 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 transaction, the director now directly owns 1,727 shares of the company's stock, valued at $667,122.83. The trade was a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell 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 sale, the chief executive officer now owns 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HUBB. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, Barclays increased their price target on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $459.25.

Hubbell Price Performance

Shares of HUBB traded up $7.37 during mid-day trading on Thursday, reaching $406.43. The company had a trading volume of 447,676 shares, compared to its average volume of 539,140. The company's 50 day simple moving average is $377.37 and its 200 day simple moving average is $385.50. Hubbell Inc has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. The company has a market capitalization of $21.69 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.41 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.60 EPS. Analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $1.32 dividend. The ex-dividend date was Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.30%. Hubbell's dividend payout ratio is currently 35.72%.

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.