Federated Hermes Inc. Boosts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Federated Hermes Inc. increased its stake in Hubbell Incorporated (NYSE:HUBB) by 126.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,101 shares of the industrial products company’s stock after acquiring an additional 11,784 shares during the period. Federated Hermes Inc.’s holdings in Hubbell were worth $6,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IFP Advisors Inc raised its position in Hubbell by 330.4% in the 3rd quarter. IFP Advisors Inc now owns 1,244 shares of the industrial products company’s stock valued at $390,000 after purchasing an additional 955 shares in the last quarter. Capital Investment Advisors LLC purchased a new position in Hubbell in the third quarter worth approximately $262,000. Founders Financial Securities LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $219,000. Exchange Traded Concepts LLC increased its position in shares of Hubbell by 273.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,197 shares of the industrial products company’s stock valued at $689,000 after purchasing an additional 1,609 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Hubbell by 3.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 30,037 shares of the industrial products company’s stock valued at $9,414,000 after purchasing an additional 954 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Performance

Shares of Hubbell stock opened at $398.55 on Thursday. The firm’s fifty day simple moving average is $394.11 and its 200-day simple moving average is $341.52. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $2.60 earnings per share. Hubbell’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Announces Dividend

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

Insider Buying and Selling at Hubbell

In other news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the sale, the vice president now owns 9,355 shares in the company, valued at $3,297,731.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Katherine Anne Lane sold 1,468 shares of Hubbell stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the sale, the vice president now owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,125 shares of company stock worth $12,065,100. 0.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.