Greenleaf Trust bought a new position in shares of Hubbell Incorporated (NYSE:HUBB – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 842 shares of the industrial products company’s stock, valued at approximately $205,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. increased its position in shares of Hubbell by 1.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,251 shares of the industrial products company’s stock worth $527,000 after purchasing an additional 42 shares in the last quarter. Citizens Financial Group Inc RI increased its position in Hubbell by 0.5% in the 4th quarter. Citizens Financial Group Inc RI now owns 10,339 shares of the industrial products company’s stock valued at $2,426,000 after acquiring an additional 50 shares during the period. Glenview Trust co increased its position in Hubbell by 2.2% in the 1st quarter. Glenview Trust co now owns 2,383 shares of the industrial products company’s stock valued at $580,000 after acquiring an additional 52 shares during the period. Global Retirement Partners LLC increased its position in Hubbell by 122.7% in the 1st quarter. Global Retirement Partners LLC now owns 98 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 54 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in Hubbell by 1.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,320 shares of the industrial products company’s stock valued at $1,014,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 85.97% of the company’s stock.
Insider Transactions at Hubbell
In other news, insider Alyssa R. Flynn sold 2,293 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $314.30, for a total transaction of $720,689.90. Following the sale, the insider now owns 3,471 shares of the company’s stock, valued at approximately $1,090,935.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gerben Bakker sold 5,895 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $314.12, for a total value of $1,851,737.40. Following the sale, the chief executive officer now owns 51,783 shares of the company’s stock, valued at approximately $16,266,075.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alyssa R. Flynn sold 2,293 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $314.30, for a total value of $720,689.90. Following the completion of the sale, the insider now directly owns 3,471 shares in the company, valued at approximately $1,090,935.30. The disclosure for this sale can be found here. Insiders have sold 12,228 shares of company stock valued at $3,839,856 in the last quarter. 0.66% of the stock is currently owned by corporate insiders.
Hubbell Price Performance
Hubbell (NYSE:HUBB – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.44. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Hubbell had a return on equity of 29.48% and a net margin of 12.55%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.81 EPS. Research analysts anticipate that Hubbell Incorporated will post 15.32 earnings per share for the current year.
Hubbell Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, August 30th. Hubbell’s dividend payout ratio (DPR) is 37.24%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on HUBB. StockNews.com began coverage on Hubbell in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Wolfe Research upgraded Hubbell from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 11th. Mizuho boosted their price target on Hubbell from $300.00 to $370.00 in a research report on Wednesday, July 26th. Finally, Wells Fargo & Company boosted their price target on Hubbell from $287.00 to $318.00 in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $265.17.
View Our Latest Stock Report on Hubbell
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.
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