PFG Advisors Boosts Stock Holdings in Hubbell Inc (NYSE:HUBB)

PFG Advisors raised its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 42.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,135 shares of the industrial products company's stock after purchasing an additional 3,031 shares during the quarter. PFG Advisors' holdings in Hubbell were worth $3,354,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in HUBB. Tsfg LLC acquired a new position in shares of Hubbell during the first quarter worth about $30,000. Johnson Financial Group Inc. increased its position in Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the period. NBC Securities Inc. acquired a new position in Hubbell during the 1st quarter worth approximately $49,000. CX Institutional purchased a new position in shares of Hubbell during the 1st quarter worth approximately $49,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Hubbell in the 1st quarter valued at approximately $66,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of Hubbell stock traded up $5.11 during trading on Friday, hitting $442.61. 489,931 shares of the company were exchanged, compared to its average volume of 486,468. The firm has a 50 day moving average price of $404.50 and a 200 day moving average price of $382.95. The stock has a market capitalization of $23.62 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 2.55 and a beta of 0.99. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. 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 posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The firm's revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.60 EPS. On average, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.19%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of Hubbell 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. 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 accessible through this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the transaction, the chief executive officer directly owned 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company set a $420.00 price target on Hubbell and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Six 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 presently has a consensus rating of "Hold" and a consensus target price 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.