Envestnet Asset Management Inc. increased its holdings in Hubbell Incorporated (NYSE:HUBB – Free Report) by 3,204.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,059,051 shares of the industrial products company’s stock after purchasing an additional 1,027,000 shares during the period. Envestnet Asset Management Inc. owned approximately 1.98% of Hubbell worth $8,332,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in Hubbell by 122.7% in the first quarter. Global Retirement Partners LLC now owns 98 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 54 shares during the last quarter. First Manhattan Co. bought a new position in Hubbell during the first quarter valued at $28,000. Johnson Financial Group Inc. bought a new position in Hubbell during the fourth quarter valued at $32,000. Atlas Capital Advisors LLC bought a new position in Hubbell during the fourth quarter valued at $40,000. Finally, TFC Financial Management Inc. bought a new position in Hubbell during the first quarter valued at $44,000. Institutional investors own 85.97% of the company’s stock.
Analysts Set New Price Targets
HUBB has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Hubbell in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Wolfe Research upgraded shares of Hubbell from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 11th. Mizuho upped their price target on shares of Hubbell from $300.00 to $370.00 in a report on Wednesday, July 26th. Finally, Wells Fargo & Company upped their price target on shares of Hubbell from $287.00 to $318.00 in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and a consensus price target of $265.17.
Insider Buying and Selling
In related news, CEO Gerben Bakker sold 5,895 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $314.12, for a total value of $1,851,737.40. Following the completion of the sale, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $16,266,075.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Alyssa R. Flynn sold 2,293 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,090,935.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 5,895 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $314.12, for a total transaction of $1,851,737.40. Following the sale, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $16,266,075.96. The disclosure for this sale can be found here. Insiders sold a total of 12,228 shares of company stock valued at $3,839,856 over the last three months. 0.66% of the stock is owned by company insiders.
Hubbell Trading Up 1.0 %
NYSE HUBB opened at $316.92 on Thursday. The company’s 50-day moving average price is $320.06 and its 200-day moving average price is $284.32. The company has a current ratio of 2.06, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The stock has a market cap of $17.00 billion, a PE ratio of 26.34, a PEG ratio of 2.15 and a beta of 0.98. Hubbell Incorporated has a 12 month low of $207.73 and a 12 month high of $340.06.
Hubbell (NYSE:HUBB – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $4.07 earnings per share for the quarter, topping analysts’ consensus estimates of $3.63 by $0.44. Hubbell had a net margin of 12.55% and a return on equity of 29.48%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the firm earned $2.81 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts forecast that Hubbell Incorporated will post 15.32 earnings per share for the current year.
Hubbell Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Wednesday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 37.24%.
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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