Valley Wealth Managers Inc. Boosts Position in Hubbell Inc (NYSE:HUBB)

Key Points

• Valley Wealth Managers Inc. increased its holdings in Hubbell Inc by 1.7%, owning approximately $18.9 million worth of 57,173 shares as of the last SEC filing.
• Institutions hold 88.16% of Hubbell's stock, with several investors making new purchases, showcasing increased interest in the company.
• Hubbell reported $3.50 earnings per share for the last quarter, falling short of the expected $3.73 and marking a 2.4% revenue decline year-over-year.

Valley Wealth Managers Inc. boosted its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,173 shares of the industrial products company's stock after purchasing an additional 980 shares during the quarter. Valley Wealth Managers Inc. owned about 0.11% of Hubbell worth $18,919,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new stake in shares of Hubbell during the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. raised its stake 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 acquiring an additional 65 shares in the last quarter. NBC Securities Inc. purchased a new stake in Hubbell in the first quarter valued at $49,000. CX Institutional acquired a new position in Hubbell in the first quarter valued at $49,000. Finally, Intact Investment Management Inc. acquired a new position in Hubbell in the first quarter valued at $66,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 7,723 shares of the business'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 directly owned 82,101 shares in the company, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $154,516.00. Following the transaction, the director directly owned 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HUBB shares. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays raised their price target on 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. boosted their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company set a $420.00 price objective on Hubbell and gave the company 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 has an average rating of "Hold" and an average price target of $456.25.

Hubbell Stock Performance

Shares of HUBB stock opened at $442.61 on Friday. The stock's 50-day moving average price is $404.50 and its 200 day moving average price is $383.31. 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 stock has a market capitalization of $23.62 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 2.52 and a beta of 0.99. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced 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). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter last year, the business posted $3.60 earnings per share. The company'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 Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.19%. 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.

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