Farther Finance Advisors LLC Purchases 360 Shares of Hubbell Inc (NYSE:HUBB)

Farther Finance Advisors LLC grew its position in Hubbell Inc (NYSE:HUBB) by 360.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460 shares of the industrial products company’s stock after buying an additional 360 shares during the quarter. Farther Finance Advisors LLC’s holdings in Hubbell were worth $153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HUBB. Norges Bank purchased a new stake in Hubbell in the fourth quarter worth about $195,218,000. Marshall Wace LLP raised its holdings in shares of Hubbell by 418.1% in the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock valued at $128,620,000 after purchasing an additional 247,786 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Hubbell in the 4th quarter worth approximately $95,868,000. GAMMA Investing LLC boosted its stake in shares of Hubbell by 52,429.8% during the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company’s stock valued at $636,200,000 after purchasing an additional 191,893 shares in the last quarter. Finally, PointState Capital LP bought a new position in shares of Hubbell during the fourth quarter valued at approximately $78,443,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

NYSE HUBB opened at $395.26 on Friday. The firm’s fifty day simple moving average is $374.12 and its two-hundred day simple moving average is $386.88. The firm has a market capitalization of $21.10 billion, a P/E ratio of 26.74, a P/E/G ratio of 1.39 and a beta of 0.99. 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 12-month low of $299.43 and a 12-month high of $481.35.

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

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell’s payout ratio is currently 35.72%.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 400 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the transaction, the director now owns 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gerben Bakker sold 7,723 shares of the 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 completion of the transaction, the chief executive officer now directly owns 82,101 shares in the company, valued at $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a research note on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a research note 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $459.25.

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.