National Bank of Canada FI Increases Stake in Hubbell Inc (NYSE:HUBB)

Key Points

• National Bank of Canada FI increased its holdings in Hubbell Inc by 61.1%, owning approximately 40,494 shares valued at $13.4 million after adding 15,361 shares.
• Several large investors have recently bought shares in Hubbell, with institutional investors now owning 88.16% of the company's stock.
• Analysts have raised price targets for Hubbell, with estimates ranging from $417 to $462.29 amid a generally neutral to buy rating from various firms.

National Bank of Canada FI boosted its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 61.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,494 shares of the industrial products company's stock after buying an additional 15,361 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of Hubbell worth $13,400,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings in Hubbell by 55.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,174 shares of the industrial products company's stock valued at $1,330,000 after purchasing an additional 1,132 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Hubbell in the fourth quarter worth about $1,128,000. SageView Advisory Group LLC purchased a new stake in shares of Hubbell in the fourth quarter worth about $341,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Hubbell in the fourth quarter worth about $3,085,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Hubbell in the fourth quarter worth about $1,203,000. Institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HUBB shares. Wells Fargo & Company increased their price target on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target 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 raised their target price on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $462.29.

Insider Transactions 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 sale, the director directly owned 1,727 shares of the company's stock, valued at approximately $667,122.83. This represents a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Hubbell Stock Down 1.3%

Hubbell stock traded down $5.83 during mid-day trading on Thursday, reaching $438.12. The stock had a trading volume of 473,414 shares, compared to its average volume of 637,834. The company has a market capitalization of $23.28 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 2.42 and a beta of 0.99. The company has a 50-day moving average price of $414.49 and a two-hundred day moving average price of $382.53. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB - Get Free Report) last posted its 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. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. On average, analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

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

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.