Van ECK Associates Corp Acquires 890 Shares of Hubbell Incorporated (NYSE:HUBB)

Van ECK Associates Corp increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,881 shares of the industrial products company’s stock after buying an additional 890 shares during the period. Van ECK Associates Corp’s holdings in Hubbell were worth $2,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC raised its stake in Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares in the last quarter. Baillie Gifford & Co. bought a new position in Hubbell in the fourth quarter worth approximately $33,000. Sentry Investment Management LLC bought a new position in Hubbell in the fourth quarter worth approximately $91,000. Grove Bank & Trust raised its stake in Hubbell by 14.3% in the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock worth $125,000 after buying an additional 50 shares in the last quarter. Finally, Blue Trust Inc. increased its position 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 in the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, Director Neal J. Keating bought 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Neal J. Keating bought 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 1,837 shares of the 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 sale, the insider now directly owns 5,296 shares in the company, valued at $1,896,815.36. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.

Hubbell Price Performance

NYSE: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 company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. The firm has a market cap of $21.08 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.47 and a beta of 0.96. The firm’s fifty day moving average is $398.93 and its two-hundred day 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 company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company earned $3.61 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Research analysts expect that Hubbell Incorporated will post 16.35 EPS for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid 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 is Thursday, May 30th. Hubbell’s payout ratio is currently 36.39%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HUBB shares. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock. Barclays reduced their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company reduced 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 upped their target price on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $386.57.

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.