Norris Perne & French LLP MI Takes $276,000 Position in Hubbell Incorporated (NYSE:HUBB)

Norris Perne & French LLP MI acquired a new stake in Hubbell Incorporated (NYSE:HUBB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 664 shares of the industrial products company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kathmere Capital Management LLC acquired a new stake in Hubbell during the first quarter worth about $207,000. Tevis Investment Management grew its holdings in Hubbell by 4.6% in the first quarter. Tevis Investment Management now owns 901 shares of the industrial products company’s stock valued at $374,000 after purchasing an additional 40 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Hubbell by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,176 shares of the industrial products company’s stock valued at $1,318,000 after purchasing an additional 212 shares during the period. Riverview Trust Co acquired a new stake in Hubbell in the first quarter valued at approximately $52,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Hubbell in the first quarter valued at approximately $56,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now directly owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the sale, the insider now directly owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the sale, the insider now directly owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,055 shares of company stock valued at $1,232,139. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Trading Down 1.2 %

NYSE:HUBB traded down $4.36 on Friday, reaching $365.48. The company’s stock had a trading volume of 1,829,822 shares, compared to its average volume of 529,360. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $388.27 and a 200 day moving average price of $371.99. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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 return on equity of 29.55% and a net margin of 13.23%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm posted $3.61 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts anticipate that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a dividend of $1.22 per share. The ex-dividend date was Friday, May 31st. This represents a $4.88 annualized dividend and a dividend yield of 1.34%. Hubbell’s dividend payout ratio is currently 36.39%.

Wall Street Analyst Weigh In

HUBB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective on the stock. Barclays decreased their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Mizuho raised their target price on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company decreased their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

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.