Hubbell Inc (NYSE:HUBB) Stock Position Lifted by Security National Bank

Security National Bank boosted its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 18.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,030 shares of the industrial products company's stock after purchasing an additional 1,239 shares during the quarter. Security National Bank's holdings in Hubbell were worth $2,657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV grew its position in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares during the period. 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 acquiring an additional 65 shares during the period. CX Institutional purchased a new stake in Hubbell during the first quarter valued at about $49,000. NBC Securities Inc. purchased a new stake in Hubbell during the first quarter valued at about $49,000. Finally, Smartleaf Asset Management LLC grew its position in Hubbell by 25.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 38 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HUBB has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Barclays upped their target price on Hubbell from $400.00 to $414.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $459.25.

Insider Activity at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of the 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 now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the transaction, the chief executive officer now directly owns 82,101 shares of the company's stock, valued at $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Up 0.3%

Shares of NYSE HUBB traded up $1.32 on Friday, hitting $406.58. The company had a trading volume of 562,257 shares, compared to its average volume of 539,421. Hubbell Inc has a 12-month low of $299.43 and a 12-month high of $481.35. The business has a 50 day moving average of $378.73 and a two-hundred day moving average of $385.18. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $21.70 billion, a P/E ratio of 27.51, a PEG ratio of 1.42 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 for the quarter, missing the consensus estimate of $3.73 by ($0.23). The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a return on equity of 27.68% and a net margin of 14.29%. Hubbell's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 EPS. As a group, equities research analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's dividend payout ratio is currently 35.72%.

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.