Van Leeuwen & Company LLC Increases Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Van Leeuwen & Company LLC grew its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,265 shares of the industrial products company's stock after purchasing an additional 3,092 shares during the quarter. Hubbell comprises approximately 1.6% of Van Leeuwen & Company LLC's investment portfolio, making the stock its 20th largest position. Van Leeuwen & Company LLC's holdings in Hubbell were worth $2,719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC grew its holdings in Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company's stock worth $30,000 after purchasing an additional 51 shares during the period. Baillie Gifford & Co. bought a new stake in Hubbell in the 4th quarter valued at about $33,000. Sentry Investment Management LLC acquired a new position in Hubbell during the 4th quarter worth approximately $91,000. Grove Bank & Trust boosted its holdings in Hubbell by 14.3% in the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company's stock worth $125,000 after acquiring an additional 50 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Hubbell by 43.2% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company's stock worth $133,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analyst Weigh In

HUBB has been the subject of several recent research reports. Barclays decreased their target price on shares of Hubbell from $400.00 to $384.00 and set an "equal weight" rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their target price on Hubbell from $435.00 to $397.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 1st. StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. Mizuho increased their price target on Hubbell from $370.00 to $450.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft assumed 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $386.57.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 397 shares of the business's 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 owns 4,899 shares of the company's stock, valued at $1,780,541.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Neal J. Keating bought 500 shares of the business's stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the purchase, the director now directly owns 8,571 shares in the company, valued at $3,246,437.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares of the company's stock, valued at approximately $1,780,541.55. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $1.94 during midday trading on Friday, reaching $407.27. The company had a trading volume of 295,989 shares, compared to its average volume of 429,523. The stock has a market cap of $21.84 billion, a P/E ratio of 30.37, a P/E/G ratio of 1.47 and a beta of 0.96. The company's 50 day moving average price is $400.45 and its 200 day moving average price is $349.13. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating analysts' consensus estimates of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned $3.61 EPS. The company's revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.35 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a dividend of $1.22 per share. The ex-dividend date is Thursday, May 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.20%. Hubbell's payout ratio is 36.39%.

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.