First Trust Direct Indexing L.P. Acquires New Shares in Hubbell Incorporated (NYSE:HUBB)

First Trust Direct Indexing L.P. bought a new position in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 791 shares of the industrial products company’s stock, valued at approximately $260,000.

Other hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC increased its stake in Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares during the period. Baillie Gifford & Co. purchased a new position in shares of Hubbell in the fourth quarter valued at about $33,000. Sentry Investment Management LLC bought a new position in shares of Hubbell during the fourth quarter valued at about $91,000. Grove Bank & Trust raised its stake in shares of Hubbell by 14.3% during the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 50 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Hubbell by 43.2% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other news, Director Neal J. Keating acquired 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Hubbell news, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the purchase, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Eugene Mikes sold 1,837 shares of the business’s 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 transaction, the insider now directly owns 5,296 shares in the company, valued at approximately $1,896,815.36. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB opened at $393.06 on Wednesday. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The business has a fifty day moving average of $398.93 and a 200 day moving average of $347.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The firm has a market capitalization of $21.08 billion, a P/E ratio of 29.31, a PEG ratio of 1.47 and a beta of 0.96.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.61 earnings per share. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.35 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.24%. Hubbell’s payout ratio is currently 36.39%.

Analyst Ratings Changes

Several research firms have recently commented on HUBB. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Wells Fargo & Company dropped their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Mizuho raised their price objective on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Barclays lowered their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

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.