Rehmann Capital Advisory Group Buys 71 Shares of Hubbell Incorporated (NYSE:HUBB)

Rehmann Capital Advisory Group increased its position in Hubbell Incorporated (NYSE:HUBB) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,661 shares of the industrial products company’s stock after purchasing an additional 71 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Hubbell were worth $689,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Van Leeuwen & Company LLC raised its position in shares of Hubbell by 59.8% in the 4th quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company’s stock worth $2,719,000 after acquiring an additional 3,092 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in Hubbell by 265.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock valued at $13,563,000 after purchasing an additional 29,959 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Hubbell by 119.0% during the fourth quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock worth $50,388,000 after buying an additional 83,581 shares during the period. PFG Advisors acquired a new position in shares of Hubbell in the 4th quarter valued at $1,108,000. Finally, Clearbridge Investments LLC purchased a new position in Hubbell in the 4th quarter worth $1,258,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on HUBB. Barclays dropped their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Mizuho raised their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company lowered their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

Insiders Place Their Bets

In other news, Director Neal J. Keating purchased 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Neal J. Keating bought 500 shares of Hubbell 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 transaction, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The disclosure for this purchase can be found here. Insiders sold 3,055 shares of company stock valued at $1,232,139 in the last three months. 0.78% of the stock is currently owned by insiders.

Hubbell Price Performance

NYSE:HUBB traded up $2.93 during trading hours on Wednesday, reaching $374.08. 158,744 shares of the company were exchanged, compared to its average volume of 452,043. The stock’s 50-day moving average is $384.54 and its 200-day moving average is $374.99. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The firm has a market cap of $20.08 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. 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 (NYSE:HUBB) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS 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 business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the business earned $3.61 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Friday, May 31st. Hubbell’s dividend payout ratio (DPR) is currently 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.