952 Shares in Hubbell Inc (NYSE:HUBB) Bought by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation has made a new investment of $315,000 in Hubbell Inc, acquiring 952 shares during the first quarter.
• Analysts have upgraded their ratings for Hubbell Inc, with Barclays raising the target price to $431.00 and Wall Street Zen upgrading it to a "buy" rating.
• Hubbell Inc recently declared a quarterly dividend of $1.32 per share, with a dividend yield of 1.3% and a payout ratio of 34.29%.

Zions Bancorporation National Association UT acquired a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 952 shares of the industrial products company's stock, valued at approximately $315,000.

Several other institutional investors also recently made changes to their positions in HUBB. Tsfg LLC acquired a new position in shares of Hubbell during the 1st quarter valued at $30,000. Johnson Financial Group Inc. lifted its holdings in shares of Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares in the last quarter. NBC Securities Inc. acquired a new position in Hubbell in the 1st quarter worth $49,000. CX Institutional purchased a new position in Hubbell in the 1st quarter valued at about $49,000. Finally, Intact Investment Management Inc. purchased a new position in Hubbell in the 1st quarter valued at about $66,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays upped their price objective on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Wells Fargo & Company upped their target price on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and a consensus price target of $462.29.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of the firm's 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 transaction, the director owned 1,727 shares in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Hubbell Trading Down 1.3%

Hubbell stock traded down $5.83 during midday trading on Thursday, reaching $438.12. The stock had a trading volume of 473,365 shares, compared to its average volume of 637,272. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 2.42 and a beta of 0.99. The firm's fifty day simple moving average is $414.49 and its two-hundred day simple moving average is $382.53.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. Equities analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell's dividend payout ratio (DPR) is currently 34.29%.

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.