Cerity Partners LLC Takes $564,000 Position in Hubbell Incorporated (NYSE:HUBB)

Cerity Partners LLC purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,716 shares of the industrial products company’s stock, valued at approximately $564,000.

A number of other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in shares of Hubbell by 32,734.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Hubbell by 46.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after acquiring an additional 323,116 shares during the period. Fiera Capital Corp bought a new stake in Hubbell during the 3rd quarter worth approximately $39,502,000. Invesco Ltd. raised its stake in Hubbell by 10.7% during the 3rd quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company’s stock worth $374,538,000 after acquiring an additional 115,886 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in Hubbell by 37.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 424,895 shares of the industrial products company’s stock worth $133,166,000 after acquiring an additional 114,679 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hubbell Trading Up 0.1 %

HUBB stock opened at $398.55 on Thursday. The firm has a fifty day moving average price of $394.11 and a 200 day moving average price of $341.52. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The firm has a market cap of $21.37 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. Hubbell’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $2.60 earnings per share. Sell-side analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,837 shares of Hubbell stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the sale, the insider now directly owns 5,296 shares in the company, valued at $1,896,815.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the completion of the sale, the vice president now directly owns 3,646 shares in the company, valued at $1,286,090.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Eugene Mikes sold 1,837 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the transaction, the insider now owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,125 shares of company stock worth $12,065,100. 0.78% of the stock is currently owned by insiders.

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.