CX Institutional Makes New $49,000 Investment in Hubbell Inc (NYSE:HUBB)

CX Institutional bought a new position in Hubbell Inc (NYSE:HUBB) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 147 shares of the industrial products company’s stock, valued at approximately $49,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV grew its position in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after buying an additional 65 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Hubbell in the first quarter valued at approximately $49,000. Venturi Wealth Management LLC increased its position in shares of Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 53 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Hubbell by 25.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on Hubbell from $400.00 to $414.00 and gave the company an “equal weight” rating in a research report on Monday, June 9th. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $459.25.

Hubbell Stock Down 0.2%

Hubbell stock opened at $391.13 on Wednesday. The firm has a 50 day simple moving average of $371.24 and a 200 day simple moving average of $387.64. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. Hubbell Inc has a 1-year low of $299.43 and a 1-year high of $481.35. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 1.37 and a beta of 0.99.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 27.68% and a net margin of 14.29%. Hubbell’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.60 earnings per share. On average, analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, May 30th. Hubbell’s dividend payout ratio is presently 35.72%.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the transaction, the director now directly owns 1,727 shares in the company, valued at $667,122.83. This represents a 18.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the sale, the chief executive officer now owns 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

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.