665 Shares in Hubbell Incorporated (NYSE:HUBB) Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 665 shares of the industrial products company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. acquired a new position in shares of Hubbell during the 4th quarter worth about $33,000. Coppell Advisory Solutions LLC acquired a new position in shares of Hubbell during the second quarter worth approximately $50,000. First Manhattan Co. bought a new stake in shares of Hubbell in the first quarter valued at approximately $28,000. Atlas Capital Advisors LLC acquired a new stake in shares of Hubbell in the fourth quarter worth $40,000. Finally, Coppell Advisory Solutions Corp. bought a new position in Hubbell during the fourth quarter worth $47,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

Hubbell stock opened at $392.45 on Friday. The business has a 50 day simple moving average of $390.63 and a 200 day simple moving average of $338.46. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The company has a market capitalization of $21.05 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 2.41 and a beta of 0.94. Hubbell Incorporated has a one year low of $229.09 and a one year high of $429.61.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.58 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.60 EPS. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s payout ratio is 34.73%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HUBB shares. Mizuho increased their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Barclays boosted their price target on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company raised their price objective on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $383.57.

Insider Transactions at Hubbell

In other news, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the transaction, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at approximately $13,359,965.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William R. Sperry sold 14,925 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the transaction, the chief financial officer now owns 37,848 shares in the company, valued at approximately $13,359,965.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock valued at $12,065,100. Corporate insiders own 0.66% of the company’s stock.

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.