Victory Capital Management Inc. Buys 61,597 Shares of Hubbell Inc (NYSE:HUBB)

Victory Capital Management Inc. lifted its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 369,087 shares of the industrial products company's stock after buying an additional 61,597 shares during the period. Victory Capital Management Inc. owned approximately 0.69% of Hubbell worth $122,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its stake in shares of Hubbell by 85.7% in the fourth 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. Tsfg LLC bought a new stake in Hubbell during the first quarter worth $30,000. Johnson Financial Group Inc. lifted its stake in Hubbell by 166.7% during the fourth 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 last quarter. CX Institutional bought a new stake in Hubbell during the first quarter worth $49,000. Finally, NBC Securities Inc. bought a new stake in Hubbell during the first quarter worth $49,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Trading Down 1.5%

NYSE HUBB traded down $6.40 on Friday, reaching $430.83. The company had a trading volume of 557,734 shares, compared to its average volume of 534,371. The firm has a market cap of $22.99 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 1.46 and a beta of 0.99. Hubbell Inc has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The business has a 50 day moving average of $398.31 and a two-hundred day moving average of $383.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73.

Hubbell (NYSE:HUBB - Get Free Report) last posted 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). The company had revenue of $1.37 billion during 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 business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.60 earnings per share. Analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business 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. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.23%. Hubbell's payout ratio is 35.72%.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer directly owned 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. 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 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 sale, the director owned 1,727 shares of the company's stock, valued at approximately $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. Company insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company set a $420.00 target price on Hubbell and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. 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 report on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Hubbell currently has an average rating of "Hold" and a consensus price target of $456.25.

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.