WESPAC Advisors SoCal LLC Buys Shares of 1,452 Hubbell Inc (NYSE:HUBB)

WESPAC Advisors SoCal LLC bought a new stake in Hubbell Inc (NYSE:HUBB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,452 shares of the industrial products company's stock, valued at approximately $480,000.

Several other hedge funds have also recently made changes to their positions in HUBB. Teacher Retirement System of Texas lifted its stake in Hubbell by 1,462.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock valued at $2,596,000 after buying an additional 7,344 shares in the last quarter. Private Trust Co. NA lifted its stake in Hubbell by 60.4% in the 1st quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock worth $97,000 after purchasing an additional 110 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Hubbell by 29.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company's stock worth $522,000 after purchasing an additional 360 shares in the last quarter. GAMMA Investing LLC lifted its stake in Hubbell by 58.7% in the 1st quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock worth $192,000 after purchasing an additional 215 shares in the last quarter. Finally, CX Institutional purchased a new position in Hubbell in the 1st quarter worth approximately $49,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research reports. Barclays raised their target price on shares of Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company set a $420.00 price target on shares of Hubbell and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised 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. 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 target price of $456.25.

Hubbell Price Performance

Shares of HUBB stock traded up $5.11 during trading hours on Friday, hitting $442.61. The company's stock had a trading volume of 489,931 shares, compared to its average volume of 486,468. The business has a fifty day moving average of $404.50 and a 200-day moving average of $383.31. The stock has a market cap of $23.62 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 2.52 and a beta of 0.99. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. 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 (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results 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 for 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%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.60 EPS. As a group, equities research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.19%. Hubbell's dividend payout ratio is presently 35.72%.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 7,723 shares of Hubbell 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 directly owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction dated 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 sale, the director owned 1,727 shares in the company, valued at approximately $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 company insiders.

Hubbell 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.