Hubbell Inc (NYSE:HUBB) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 465.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 35,307 shares of the industrial products company's stock after acquiring an additional 29,061 shares during the quarter. Sequoia Financial Advisors LLC owned approximately 0.07% of Hubbell worth $11,683,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CX Institutional bought a new position in shares of Hubbell in the first quarter worth $49,000. Smartleaf Asset Management LLC boosted its stake in Hubbell by 25.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock worth $80,000 after purchasing an additional 38 shares during the period. UMB Bank n.a. grew its holdings in Hubbell by 21.1% during the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company's stock valued at $107,000 after buying an additional 56 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Hubbell by 1.8% during the fourth quarter. Janus Henderson Group PLC now owns 7,130 shares of the industrial products company's stock valued at $2,988,000 after buying an additional 123 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Hubbell by 43.6% in the first quarter. Blue Trust Inc. now owns 382 shares of the industrial products company's stock worth $126,000 after buying an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Trading Up 0.3%

Shares of NYSE:HUBB traded up $1.32 on Friday, reaching $406.58. 562,257 shares of the company traded hands, compared to its average volume of 539,418. The stock has a market capitalization of $21.70 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The business's 50-day simple moving average is $378.73 and its 200 day simple moving average is $385.18. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. Hubbell Inc has a 52 week low of $299.43 and a 52 week high of $481.35.

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

Hubbell Dividend Announcement

The firm also recently disclosed 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 dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's payout ratio is 35.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HUBB shares. JPMorgan Chase & Co. upped their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Barclays increased their target price on Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $459.25.

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 stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the transaction, the director now owns 1,727 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction dated 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 now directly owns 82,101 shares in the company, valued at $31,578,507.63. This trade 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 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.