Prime Capital Investment Advisors LLC Takes $204,000 Position in Hubbell Incorporated (NYSE:HUBB)

Prime Capital Investment Advisors LLC purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 619 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Panagora Asset Management Inc. raised its position in Hubbell by 87.6% during the first quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company’s stock valued at $997,000 after purchasing an additional 2,533 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Hubbell by 9.4% during the first quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company’s stock valued at $6,006,000 after purchasing an additional 2,736 shares in the last quarter. Blair William & Co. IL raised its position in Hubbell by 0.5% during the first quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock valued at $4,224,000 after purchasing an additional 120 shares in the last quarter. Vanguard Group Inc. raised its position in Hubbell by 0.4% during the first quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock valued at $1,002,421,000 after purchasing an additional 23,865 shares in the last quarter. Finally, Covestor Ltd raised its position in Hubbell by 137.3% during the first quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 302 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

Shares of Hubbell stock opened at $401.74 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a twelve month low of $221.03 and a twelve month high of $429.61. The stock has a market cap of $21.55 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 2.45 and a beta of 0.94. The company’s fifty day moving average is $387.95 and its 200 day moving average is $336.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. Hubbell’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts forecast that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $1.22 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.21%. Hubbell’s dividend payout ratio is 34.73%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Barclays boosted their price objective on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price target for the company. Mizuho upped their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $383.57.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the company’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 sale, the insider now owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Nero Jonathan M. Del sold 1,098 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the sale, the vice president now directly owns 3,646 shares in the company, valued at approximately $1,286,090.04. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock valued at $12,065,100 over the last 90 days. 0.66% of the stock is owned by insiders.

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.