PFG Advisors Takes Position in Hubbell Incorporated (NYSE:HUBB)

PFG Advisors acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBBFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,370 shares of the industrial products company’s stock, valued at approximately $1,108,000.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Hubbell by 1.7% during the third quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock valued at $1,810,812,000 after purchasing an additional 96,435 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Hubbell by 1.7% during the first quarter. BlackRock Inc. now owns 5,457,568 shares of the industrial products company’s stock valued at $1,327,881,000 after purchasing an additional 89,491 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Hubbell by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 2,731,202 shares of the industrial products company’s stock valued at $664,529,000 after purchasing an additional 148,953 shares during the last quarter. FMR LLC raised its holdings in shares of Hubbell by 2.9% during the third quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock valued at $803,572,000 after purchasing an additional 71,962 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Hubbell by 2.1% during the first quarter. State Street Corp now owns 1,753,314 shares of the industrial products company’s stock valued at $426,599,000 after purchasing an additional 35,752 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the transaction, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,125 shares of company stock valued at $12,065,100. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the topic of several recent research reports. Mizuho increased their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Barclays increased their price target on shares of Hubbell from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. TD Cowen initiated coverage on shares of Hubbell in a research report on Friday, December 8th. They issued an “outperform” rating and a $338.00 price target on the stock. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.00.

Read Our Latest Report on HUBB

Hubbell Stock Up 0.3 %

Shares of HUBB stock opened at $415.05 on Monday. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.53 and a beta of 0.93. Hubbell Incorporated has a one year low of $219.77 and a one year high of $419.64. The company’s fifty day moving average price is $372.74 and its 200-day moving average price is $329.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01.

Hubbell (NYSE:HUBBGet Free Report) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. Hubbell’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $2.60 earnings per share. Sell-side analysts expect that Hubbell Incorporated will post 16.41 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 annualized dividend and a yield of 1.18%. Hubbell’s payout ratio is 34.73%.

About Hubbell

(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.

Recommended Stories

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBBFree Report).

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.