Klein Pavlis & Peasley Financial Inc. Buys 994 Shares of Hubbell Inc (NYSE:HUBB)

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its stake in Hubbell Inc. by 35.9% during Q1, acquiring 994 additional shares, bringing their total holdings to 3,760 shares valued at approximately $1.25 million.
• Several large investors, including Bank of New York Mellon Corp and Invesco Ltd., have also increased their positions in Hubbell, indicating strong institutional interest with 88.16% of shares being held by institutional investors.
• Hubbell's stock received multiple target price increases from analysts, with the current consensus price target reaching $460.75 and a mixed rating of five holds and four buys.

Klein Pavlis & Peasley Financial Inc. raised its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,760 shares of the industrial products company's stock after acquiring an additional 994 shares during the quarter. Klein Pavlis & Peasley Financial Inc.'s holdings in Hubbell were worth $1,252,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in Hubbell by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock valued at $937,623,000 after acquiring an additional 7,142 shares during the period. Invesco Ltd. grew its position in shares of Hubbell by 1.9% during the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock worth $624,347,000 after purchasing an additional 27,914 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Hubbell by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock worth $536,641,000 after purchasing an additional 29,601 shares in the last quarter. Northern Trust Corp grew its position in shares of Hubbell by 16.4% during the 4th quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company's stock worth $217,032,000 after purchasing an additional 72,913 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Hubbell by 6.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 399,421 shares of the industrial products company's stock worth $167,314,000 after purchasing an additional 25,534 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HUBB shares. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company increased their target price on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Barclays increased their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and a consensus price target of $460.75.

Insider Activity at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of the 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 transaction, the director owned 1,727 shares of the company's stock, valued at $667,122.83. This represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerben Bakker sold 7,723 shares of the 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 transaction, the chief executive officer directly owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Performance

NYSE HUBB opened at $426.27 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $22.75 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 2.45 and a beta of 0.99. The firm's 50 day simple moving average is $408.97 and its 200 day simple moving average is $383.51. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.36 by $0.57. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. As a group, research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio is presently 34.29%.

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.

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