Allianz Asset Management GmbH Acquires 5,406 Shares of Hubbell Incorporated (NYSE:HUBB)

Allianz Asset Management GmbH boosted its holdings in Hubbell Incorporated (NYSE:HUBBFree Report) by 26.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,829 shares of the industrial products company’s stock after acquiring an additional 5,406 shares during the period. Allianz Asset Management GmbH’s holdings in Hubbell were worth $8,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in HUBB. Xponance Inc. increased its stake in Hubbell by 0.4% during the 4th quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after acquiring an additional 36 shares during the period. Atria Wealth Solutions Inc. raised its stake in Hubbell by 2.4% in the third quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock valued at $603,000 after purchasing an additional 45 shares in the last quarter. Lindbrook Capital LLC lifted its position in Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares during the period. Essex Financial Services Inc. grew its stake in Hubbell by 3.1% during the fourth quarter. Essex Financial Services Inc. now owns 1,703 shares of the industrial products company’s stock worth $560,000 after buying an additional 52 shares in the last quarter. Finally, Waverly Advisors LLC grew its stake in Hubbell by 6.9% during the third quarter. Waverly Advisors LLC now owns 882 shares of the industrial products company’s stock worth $276,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In related news, Director Neal J. Keating acquired 500 shares of the 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 purchase, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the transaction, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Neal J. Keating acquired 500 shares of the firm’s 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 acquisition, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 3,055 shares of company stock valued at $1,232,139. 0.78% of the stock is currently owned by company insiders.

Hubbell Trading Down 0.8 %

NYSE:HUBB opened at $385.87 on Tuesday. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61. The firm’s fifty day moving average is $400.47 and its 200-day moving average is $363.03. The firm has a market cap of $20.72 billion, a P/E ratio of 28.77, a P/E/G ratio of 1.51 and a beta of 0.94. 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:HUBBGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS 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 business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm posted $3.61 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts expect that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, May 31st. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Analysts Set New Price Targets

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

View Our Latest Stock Report on HUBB

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.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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