Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. lifted its position in Hubbell Incorporated (NYSE:HUBBFree Report) by 7.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,533 shares of the industrial products company’s stock after acquiring an additional 171 shares during the quarter. Fulton Bank N.A.’s holdings in Hubbell were worth $1,051,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HUBB. Envestnet Portfolio Solutions Inc. bought a new stake in Hubbell during the 3rd quarter valued at $417,000. Envestnet Asset Management Inc. raised its stake in Hubbell by 48.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 57,281 shares of the industrial products company’s stock valued at $17,952,000 after acquiring an additional 18,769 shares in the last quarter. Pearl River Capital LLC bought a new stake in Hubbell during the 3rd quarter valued at $871,000. CI Investments Inc. raised its stake in Hubbell by 8.8% during the 3rd quarter. CI Investments Inc. now owns 1,139 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 92 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Hubbell by 15.3% during the 3rd quarter. Hsbc Holdings PLC now owns 45,094 shares of the industrial products company’s stock valued at $14,134,000 after acquiring an additional 5,978 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE HUBB traded down $7.67 during trading hours on Thursday, hitting $380.07. 502,829 shares of the company’s stock were exchanged, compared to its average volume of 440,002. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. 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 stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 1.50 and a beta of 0.94. The company’s 50-day moving average price is $390.89 and its 200-day moving average price is $369.17.

Hubbell (NYSE:HUBBGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm earned $3.61 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $1.22 per share. The ex-dividend date was Friday, May 31st. This represents a $4.88 annualized dividend and a yield of 1.28%. Hubbell’s dividend payout ratio is 36.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective on the stock. Mizuho lifted their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Barclays decreased their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Wells Fargo & Company decreased their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. 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, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

Check Out Our Latest Analysis on HUBB

Insider Activity at Hubbell

In related news, Director Neal J. Keating acquired 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the purchase, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the sale, the insider now directly owns 4,234 shares in the company, valued at approximately $1,722,348.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Neal J. Keating purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The disclosure for this purchase can be found here. Insiders have sold 3,055 shares of company stock worth $1,232,139 over the last three months. Company insiders own 0.66% of the company’s stock.

Hubbell Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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