Klingman & Associates LLC purchased a new stake in Hubbell Inc (NYSE:HUBB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,467 shares of the industrial products company's stock, valued at approximately $816,000.
A number of other large investors also recently made changes to their positions in the stock. Tsfg LLC acquired a new stake in Hubbell during the 1st quarter worth $30,000. Johnson Financial Group Inc. raised its stake in shares of Hubbell by 166.7% in the 4th 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 during the period. NBC Securities Inc. acquired a new stake in shares of Hubbell in the 1st quarter valued at about $49,000. CX Institutional acquired a new stake in shares of Hubbell in the 1st quarter valued at about $49,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Hubbell in the 1st quarter valued at about $66,000. 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 the business's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on HUBB shares. Barclays lifted their price target on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company lifted their price target on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Five equities research 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $462.29.
View Our Latest Stock Report on HUBB
Hubbell Stock Performance
Shares of NYSE:HUBB traded down $5.83 during trading on Thursday, reaching $438.12. 473,414 shares of the stock were exchanged, compared to its average volume of 614,057. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The firm has a market cap of $23.28 billion, a PE ratio of 28.45, a PEG ratio of 2.48 and a beta of 0.99. The stock has a 50-day moving average price of $415.49 and a 200-day moving average price of $382.70. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.
Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (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 analysts' expectations of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Research analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.
Hubbell Dividend Announcement
The business also recently declared 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. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th. Hubbell's payout ratio is 34.29%.
About Hubbell
(
Free Report)
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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