791 Shares in Hubbell Incorporated (NYSE:HUBB) Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. bought a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 791 shares of the industrial products company’s stock, valued at approximately $260,000.

Other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its position in Hubbell by 6.9% in the third quarter. Commonwealth Equity Services LLC now owns 11,056 shares of the industrial products company’s stock valued at $3,465,000 after purchasing an additional 713 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Hubbell by 50.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,630 shares of the industrial products company’s stock valued at $2,705,000 after buying an additional 2,886 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Hubbell by 8.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,410 shares of the industrial products company’s stock worth $2,949,000 after buying an additional 711 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in Hubbell by 10.7% in the third quarter. IFM Investors Pty Ltd now owns 11,868 shares of the industrial products company’s stock valued at $3,720,000 after purchasing an additional 1,148 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Hubbell by 10.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 296,534 shares of the industrial products company’s stock worth $92,937,000 after acquiring an additional 28,545 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, Director Neal J. Keating bought 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the transaction, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neal J. Keating purchased 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. Insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

HUBB has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Barclays lowered their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Mizuho lifted their target price on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $386.57.

Hubbell Price Performance

HUBB opened at $393.06 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The company has a market cap of $21.08 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.47 and a beta of 0.96. The company has a 50 day moving average of $398.93 and a two-hundred day moving average of $347.48.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the company posted $3.61 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Hubbell Incorporated will post 16.35 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $1.22 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.88 annualized dividend and a yield of 1.24%. Hubbell’s dividend payout ratio is presently 36.39%.

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.