Cibc World Markets Corp Invests $2.27 Million in Hubbell Incorporated (NYSE:HUBB)

Cibc World Markets Corp acquired a new stake in Hubbell Incorporated (NYSE:HUBBFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,906 shares of the industrial products company’s stock, valued at approximately $2,272,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HUBB. Vanguard Group Inc. increased its holdings in shares of Hubbell by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock valued at $1,810,812,000 after acquiring an additional 96,435 shares during the last quarter. FMR LLC grew its position in shares of Hubbell by 2.9% during the 3rd quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock valued at $803,572,000 after buying an additional 71,962 shares during the last quarter. International Assets Investment Management LLC raised its stake in 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 during the period. Massachusetts Financial Services Co. MA lifted its holdings in Hubbell by 24.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock worth $417,267,000 after acquiring an additional 248,493 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Hubbell by 10.7% in the third quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company’s stock valued at $374,538,000 after acquiring an additional 115,886 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 0.2 %

Hubbell stock opened at $366.68 on Monday. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.42 and a beta of 0.94. The company’s 50-day moving average price is $397.04 and its two-hundred day moving average price is $365.05. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBBGet Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.61 earnings per share. On average, analysts expect that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, May 31st. Hubbell’s payout ratio is currently 36.39%.

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on Hubbell

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares in the company, valued at approximately $1,722,348.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the sale, the insider now directly owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Neal J. Keating bought 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last three months, insiders have sold 3,055 shares of company stock worth $1,232,139. 0.78% of the stock is owned by corporate insiders.

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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