Thurston Springer Miller Herd & Titak Inc. Raises Stock Position in Hubbell Incorporated (NYSE:HUBB)

Thurston Springer Miller Herd & Titak Inc. grew its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 1,492.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,325 shares of the industrial products company's stock after purchasing an additional 2,179 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Hubbell were worth $769,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Creative Financial Designs Inc. ADV boosted its position in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell in the fourth quarter valued at $30,000. Johnson Financial Group Inc. boosted its holdings in Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $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 $49,000. Finally, Venturi Wealth Management LLC grew its stake in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Price Performance

Shares of NYSE HUBB opened at $388.36 on Friday. The stock's 50-day simple moving average is $361.11 and its 200-day simple moving average is $391.85. The firm has a market capitalization of $20.73 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business posted $3.60 EPS. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.36%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Hubbell declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HUBB. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. raised 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. Finally, Barclays decreased their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $457.50.

Insider Buying and Selling at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction that occurred 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 now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell 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 completion of the transaction, the director now directly owns 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by 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.

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