Allspring Global Investments Holdings LLC Has $1.35 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Allspring Global Investments Holdings LLC trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 18.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,092 shares of the industrial products company’s stock after selling 949 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hubbell were worth $1,346,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in HUBB. Ronald Blue Trust Inc. raised its position in Hubbell by 59.1% during the third quarter. Ronald Blue Trust Inc. now owns 296 shares of the industrial products company’s stock valued at $98,000 after buying an additional 110 shares during the period. IFP Advisors Inc increased its holdings in shares of Hubbell by 330.4% in the 3rd quarter. IFP Advisors Inc now owns 1,244 shares of the industrial products company’s stock valued at $390,000 after purchasing an additional 955 shares during the period. Capital Investment Advisors LLC purchased a new stake in shares of Hubbell in the third quarter worth approximately $262,000. Founders Financial Securities LLC acquired a new stake in shares of Hubbell during the third quarter worth approximately $219,000. Finally, Exchange Traded Concepts LLC increased its stake in Hubbell by 273.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,197 shares of the industrial products company’s stock valued at $689,000 after buying an additional 1,609 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,837 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the transaction, the insider now owns 5,296 shares in the company, valued at $1,896,815.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the sale, the vice president now owns 3,646 shares in the company, valued at approximately $1,286,090.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 1,837 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the transaction, the insider now owns 5,296 shares in the company, valued at $1,896,815.36. 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 quarter. 0.78% of the stock is owned by company insiders.

Hubbell Trading Up 0.7 %

Shares of HUBB opened at $390.77 on Tuesday. The stock’s 50-day moving average price is $392.44 and its 200 day moving average price is $340.49. 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 12-month low of $230.50 and a 12-month high of $429.61. The firm has a market capitalization of $20.96 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 2.36 and a beta of 0.94.

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

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $1.22 per share. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.25%. Hubbell’s dividend payout ratio (DPR) is currently 34.73%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HUBB. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. Barclays raised their price target on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho boosted their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company raised their price target on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $383.57.

Hubbell Company 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.