Parr Mcknight Wealth Management Group LLC Purchases 1,157 Shares of Hubbell Inc (NYSE:HUBB)

Parr Mcknight Wealth Management Group LLC boosted its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,769 shares of the industrial products company's stock after buying an additional 1,157 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Hubbell were worth $1,247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV grew its stake in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after acquiring an additional 30 shares in the last quarter. Tsfg LLC bought a new position in Hubbell during the first quarter valued at about $30,000. Johnson Financial Group Inc. grew its position in Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after buying an additional 65 shares during the period. NBC Securities Inc. bought a new position in Hubbell during the first quarter valued at about $49,000. Finally, CX Institutional bought a new position in Hubbell during the first quarter valued at about $49,000. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Hubbell

In other news, 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 sale, the chief executive officer owned 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Hubbell Price Performance

NYSE HUBB traded down $3.08 on Friday, reaching $419.18. 521,464 shares of the company's stock traded hands, compared to its average volume of 536,230. Hubbell Inc has a 12 month low of $299.43 and a 12 month high of $481.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73. The stock has a 50-day simple moving average of $392.77 and a 200 day simple moving average of $383.20. The stock has a market cap of $22.37 billion, a PE ratio of 28.36, a P/E/G ratio of 1.48 and a beta of 0.99.

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

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's dividend payout ratio (DPR) is currently 35.72%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays upped their price objective on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company set a $420.00 price objective on shares of Hubbell and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of "Hold" and a consensus price target of $456.25.

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.