DekaBank Deutsche Girozentrale Buys 2,822 Shares of Hubbell Incorporated (NYSE:HUBB)

DekaBank Deutsche Girozentrale increased its position in Hubbell Incorporated (NYSE:HUBB) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,227 shares of the industrial products company’s stock after purchasing an additional 2,822 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Hubbell were worth $40,731,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nvwm LLC purchased a new stake in shares of Hubbell in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC raised its stake 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 buying an additional 51 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Hubbell during the fourth quarter worth $33,000. Finally, Principal Securities Inc. bought a new stake in Hubbell during the 4th quarter valued at $40,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now directly owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the sale, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,055 shares of company stock worth $1,232,139. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on HUBB. Barclays reduced their price target on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $402.57.

Hubbell Stock Performance

Shares of Hubbell stock traded down $13.58 during midday trading on Friday, hitting $366.19. The company had a trading volume of 599,728 shares, compared to its average volume of 556,012. The company has a fifty day simple moving average of $376.65 and a 200 day simple moving average of $380.74. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.43 and a beta of 0.90. The company has a quick ratio of 1.03, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $4.07 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts predict that Hubbell Incorporated will post 16.38 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.33%. Hubbell’s dividend payout ratio is currently 36.39%.

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.