Federated Hermes Inc. Increases Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Federated Hermes Inc. increased its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 126.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,101 shares of the industrial products company's stock after purchasing an additional 11,784 shares during the period. Federated Hermes Inc.'s holdings in Hubbell were worth $6,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Hubbell by 13.6% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,022 shares of the industrial products company's stock worth $336,000 after buying an additional 122 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Hubbell by 3.9% during the fourth quarter. Avior Wealth Management LLC now owns 2,101 shares of the industrial products company's stock valued at $691,000 after acquiring an additional 79 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hubbell by 1.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,419 shares of the industrial products company's stock valued at $17,571,000 after purchasing an additional 770 shares in the last quarter. Hamilton Point Investment Advisors LLC grew its holdings in shares of Hubbell by 1.6% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 20,267 shares of the industrial products company's stock worth $6,667,000 after purchasing an additional 327 shares during the last quarter. Finally, Flputnam Investment Management Co. acquired a new stake in shares of Hubbell during the 4th quarter worth about $219,000. Institutional investors own 88.16% of the company's stock.

Hubbell Trading Up 0.9 %

Shares of NYSE HUBB traded up $3.72 during mid-day trading on Thursday, hitting $402.27. The company's stock had a trading volume of 343,492 shares, compared to its average volume of 405,469. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The company's fifty day simple moving average is $394.11 and its 200-day simple moving average is $341.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The stock has a market cap of $21.57 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The business's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $2.60 earnings per share. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now directly owns 4,899 shares in the company, valued at approximately $1,780,541.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the sale, the chief executive officer now owns 51,783 shares of the company's stock, valued at approximately $18,286,130.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now owns 4,899 shares of the company's stock, valued at $1,780,541.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on HUBB shares. Barclays boosted their price target on shares of Hubbell from $340.00 to $400.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 2nd. Wells Fargo & Company boosted their price objective on Hubbell from $351.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 31st. StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, February 2nd. Mizuho lifted their price target on Hubbell from $370.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a report on Monday, March 11th. They set a "hold" rating and a $427.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Hubbell has a consensus rating of "Moderate Buy" and an average price target of $383.57.

About Hubbell

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.