Hubbell Incorporated (NYSE:HUBB) Director Buys $189,385.00 in Stock

Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating bought 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $378.77 per share, with a total value of $189,385.00. Following the completion of the transaction, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The transaction was disclosed in a filing with the SEC, which is available through this link.

Hubbell Price Performance

NYSE:HUBB opened at $396.37 on Thursday. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 1.47 and a beta of 0.96. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The stock has a fifty day moving average of $399.44 and a 200 day moving average of $347.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.23%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Institutional Trading of Hubbell

A number of hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after acquiring an additional 1,468,463 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares during the last quarter. Norges Bank purchased a new position in Hubbell in the 4th quarter worth $143,024,000. Massachusetts Financial Services Co. MA lifted its stake in Hubbell by 46.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after purchasing an additional 323,116 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in Hubbell by 575.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock valued at $94,793,000 after buying an additional 245,536 shares during the period. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HUBB. Mizuho raised their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. Barclays cut their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company cut their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and an average target price of $386.57.

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.