Oak Thistle LLC Invests $416,000 in Hubbell Inc (NYSE:HUBB)

Key Points

• Oak Thistle LLC has acquired a new position in Hubbell Inc, investing approximately $416,000 for 1,258 shares in the first quarter.
• Hubbell reported a quarterly earnings per share of $3.50, missing analysts' estimates by $0.23, and had a revenue of $1.37 billion for the quarter.
• The company recently announced a quarterly dividend of $1.32 per share, resulting in an annualized dividend yield of 1.19%.

Oak Thistle LLC bought a new stake in 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 firm bought 1,258 shares of the industrial products company's stock, valued at approximately $416,000.

A number of other hedge funds have also recently added to or reduced their stakes in HUBB. KLP Kapitalforvaltning AS boosted its stake in shares of Hubbell by 2.2% during the first quarter. KLP Kapitalforvaltning AS now owns 18,300 shares of the industrial products company's stock valued at $6,056,000 after purchasing an additional 400 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in Hubbell by 377.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 12,888 shares of the industrial products company's stock worth $4,265,000 after buying an additional 10,191 shares during the period. Guidance Capital Inc. boosted its position in Hubbell by 28.7% during the 1st quarter. Guidance Capital Inc. now owns 2,468 shares of the industrial products company's stock worth $878,000 after buying an additional 550 shares during the period. PFG Advisors grew its stake in shares of Hubbell by 42.7% in the first quarter. PFG Advisors now owns 10,135 shares of the industrial products company's stock worth $3,354,000 after purchasing an additional 3,031 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Hubbell by 3.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,088 shares of the industrial products company's stock worth $1,353,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insiders Place Their Bets

In related news, Director Carlos M. Cardoso sold 400 shares of the business's 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 owned 1,727 shares in the company, 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 at the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 82,101 shares in the company, valued at $31,578,507.63. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Hubbell Trading Down 3.2%

Shares of NYSE:HUBB traded down $14.19 during midday trading on Tuesday, reaching $424.12. The company's stock had a trading volume of 320,304 shares, compared to its average volume of 638,636. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 2.55 and a beta of 0.99. 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 firm has a 50 day moving average price of $405.43 and a two-hundred day moving average price of $382.70. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35.

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 $4.40 by $0.53. Hubbell had a return on equity of 27.68% and a net margin of 14.29%. As a group, analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.24%. Hubbell's payout ratio is presently 35.72%.

Wall Street Analyst Weigh In

HUBB has been the topic of several recent research reports. Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company set a $420.00 price objective on Hubbell and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Barclays lifted their price objective on Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $456.25.

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.