846 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by Tidemark LLC

Tidemark LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 846 shares of the industrial products company’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after buying an additional 74 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares in the last quarter. Baillie Gifford & Co. acquired a new position in shares of Hubbell during the 4th quarter worth approximately $33,000. Principal Securities Inc. purchased a new stake in shares of Hubbell in the fourth quarter valued at approximately $40,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Hubbell in the fourth quarter valued at approximately $91,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of the business’s 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 completion of the sale, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Neal J. Keating bought 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. Insiders have sold 3,055 shares of company stock worth $1,232,139 in the last ninety days. 0.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HUBB shares. Barclays lowered their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Mizuho upped their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Wells Fargo & Company decreased their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $386.57.

Hubbell Stock Down 0.7 %

Shares of Hubbell stock traded down $3.00 during trading on Wednesday, hitting $401.00. 410,261 shares of the stock were exchanged, compared to its average volume of 424,190. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The firm’s 50-day moving average price is $401.78 and its 200 day moving average price is $355.97. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 1.54 and a beta of 0.96. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned $3.61 EPS. Hubbell’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts forecast that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

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.