21,941 Shares in Hubbell Incorporated (NYSE:HUBB) Bought by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC bought a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 21,941 shares of the industrial products company's stock, valued at approximately $7,217,000. Hubbell accounts for about 1.6% of Bourgeon Capital Management LLC's holdings, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Hubbell by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company's stock worth $1,810,812,000 after acquiring an additional 96,435 shares in the last quarter. BlackRock Inc. boosted its position in shares of Hubbell by 1.7% during the 1st quarter. BlackRock Inc. now owns 5,457,568 shares of the industrial products company's stock valued at $1,327,881,000 after acquiring an additional 89,491 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Hubbell by 5.8% in the first quarter. JPMorgan Chase & Co. now owns 2,731,202 shares of the industrial products company's stock worth $664,529,000 after buying an additional 148,953 shares during the last quarter. FMR LLC lifted its position in shares of Hubbell by 2.9% during the third quarter. FMR LLC now owns 2,563,965 shares of the industrial products company's stock worth $803,572,000 after purchasing an additional 71,962 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Hubbell by 2.1% during the first quarter. State Street Corp now owns 1,753,314 shares of the industrial products company's stock valued at $426,599,000 after buying an additional 35,752 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research note on Monday, March 11th. They set a "hold" rating and a $427.00 price target on the stock. Mizuho lifted their target price on Hubbell from $370.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. Wells Fargo & Company lifted their target price on Hubbell from $351.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 31st. Barclays lifted their target price on Hubbell from $340.00 to $400.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 2nd. Finally, StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $383.57.

Hubbell Price Performance

Shares of NYSE:HUBB traded up $1.15 during midday trading on Monday, reaching $402.89. 370,165 shares of the company's stock traded hands, compared to its average volume of 410,555. Hubbell Incorporated has a 1 year low of $227.39 and a 1 year high of $429.61. The company has a market cap of $21.61 billion, a P/E ratio of 28.68, a PEG ratio of 2.45 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The company has a fifty day simple moving average of $388.99 and a two-hundred day simple moving average of $337.50.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $2.60 EPS. The business's revenue was up 10.3% on a year-over-year basis. Equities analysts predict that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, February 28th. Hubbell's dividend payout ratio is currently 34.73%.

Insider Activity at Hubbell

In related news, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the completion of the transaction, the vice president now directly owns 3,646 shares of the company's stock, valued at approximately $1,286,090.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Katherine Anne Lane sold 1,468 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the transaction, the vice president now owns 3,646 shares of the company's stock, valued at $1,286,090.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is owned by 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.