Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Hubbell Incorporated (NYSE:HUBB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,419 shares of the industrial products company’s stock after purchasing an additional 770 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Hubbell worth $17,571,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Hamilton Point Investment Advisors LLC boosted its holdings in Hubbell by 1.6% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 20,267 shares of the industrial products company’s stock valued at $6,667,000 after acquiring an additional 327 shares during the last quarter. Flputnam Investment Management Co. acquired a new position in shares of Hubbell during the fourth quarter worth about $219,000. Bourgeon Capital Management LLC acquired a new position in shares of Hubbell during the fourth quarter worth about $7,217,000. Sentry Investment Management LLC acquired a new position in shares of Hubbell during the fourth quarter worth about $91,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Hubbell by 62.5% during the fourth quarter. Mackenzie Financial Corp now owns 4,210 shares of the industrial products company’s stock worth $1,385,000 after purchasing an additional 1,619 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analysts Set New Price Targets

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

Hubbell Stock Up 0.4 %

Shares of Hubbell stock opened at $392.45 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market cap of $21.05 billion, a P/E ratio of 27.93, a P/E/G ratio of 2.38 and a beta of 0.94. Hubbell Incorporated has a fifty-two week low of $229.09 and a fifty-two week high of $429.61. The business has a 50-day moving average price of $390.63 and a 200 day moving average price of $338.46.

Hubbell (NYSE:HUBB) last posted 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 during the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 earnings per share. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced 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 was Wednesday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $5,268,375.75. Following the completion of the transaction, the chief financial officer now directly owns 37,848 shares in the company, valued at $13,359,965.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is currently owned by insiders.

Hubbell 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.