Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating Acquires 500 Shares

Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating bought 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $378.77 per share, with a total value of $189,385.00. Following the purchase, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hubbell Stock Performance

NYSE HUBB opened at $393.06 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The firm has a market capitalization of $21.08 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.47 and a beta of 0.96. The business’s 50-day simple moving average is $398.93 and its 200-day simple moving average is $347.48.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm posted $3.61 earnings per share. Hubbell’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts predict 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. Shareholders of record on Friday, May 31st will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Institutional Investors Weigh In On Hubbell

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in 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 acquiring an additional 1,468,463 shares during the period. Vanguard Group Inc. grew its holdings in Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares in the last quarter. Norges Bank purchased a new stake in Hubbell during the 4th quarter worth $143,024,000. Massachusetts Financial Services Co. MA lifted its holdings in Hubbell by 46.4% in 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 buying an additional 323,116 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Hubbell by 575.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after acquiring an additional 245,536 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.