Hubbell Inc (NYSE:HUBB) Stake Lifted by Amalgamated Bank

Amalgamated Bank increased its position in shares of Hubbell Inc (NYSE:HUBB) by 1.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 10,682 shares of the industrial products company’s stock after buying an additional 121 shares during the quarter. Amalgamated Bank’s holdings in Hubbell were worth $3,535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares during the period. Tsfg LLC acquired a new position in Hubbell during the first quarter worth about $30,000. Johnson Financial Group Inc. raised its position in Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 65 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Hubbell during the 1st quarter valued at about $49,000. Finally, CX Institutional acquired a new position in shares of Hubbell in the 1st quarter worth approximately $49,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 0.1%

Shares of Hubbell stock opened at $414.82 on Friday. The company has a market cap of $22.14 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.45 and a beta of 0.99. Hubbell Inc has a 1 year low of $299.43 and a 1 year high of $481.35. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $385.54 and a 200 day moving average price of $383.71.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company posted $3.60 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.27%. Hubbell’s dividend payout ratio is 35.72%.

Analysts Set New Price Targets

HUBB has been the subject of several recent research reports. Barclays increased their target price on shares of Hubbell from $400.00 to $414.00 and gave the company an “equal weight” rating in a research note on Monday, June 9th. JPMorgan Chase & Co. upped their price target on Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company set a $420.00 target price on Hubbell and gave the stock an “equal weight” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and a consensus target price of $455.50.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the sale, the director directly owned 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the transaction, the chief executive officer owned 82,101 shares in the company, valued at $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.