Norris Perne & French LLP MI Takes $276,000 Position in Hubbell Incorporated (NYSE:HUBB)

Norris Perne & French LLP MI acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the first quarter, Holdings Channel.com reports. The fund acquired 664 shares of the industrial products company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in Hubbell during the 3rd quarter valued at $417,000. Envestnet Asset Management Inc. raised its stake in Hubbell by 48.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 57,281 shares of the industrial products company’s stock valued at $17,952,000 after purchasing an additional 18,769 shares during the period. LPL Financial LLC raised its stake in Hubbell by 25.1% during the 3rd quarter. LPL Financial LLC now owns 28,155 shares of the industrial products company’s stock valued at $8,824,000 after purchasing an additional 5,645 shares during the period. Mariner LLC raised its stake in Hubbell by 4.5% during the 3rd quarter. Mariner LLC now owns 10,804 shares of the industrial products company’s stock valued at $3,386,000 after purchasing an additional 469 shares during the period. Finally, Stifel Financial Corp raised its stake in Hubbell by 10.3% during the 3rd quarter. Stifel Financial Corp now owns 28,250 shares of the industrial products company’s stock valued at $8,854,000 after purchasing an additional 2,630 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the sale, the insider now directly owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction that occurred 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 sale, the insider now directly owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the transaction, the insider now owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The disclosure for this sale can be found here. Insiders have sold a total of 3,055 shares of company stock valued at $1,232,139 over the last three months. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $4.36 during midday trading on Friday, hitting $365.48. The company’s stock had a trading volume of 1,829,822 shares, compared to its average volume of 529,360. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.43 and a beta of 0.94. The stock’s 50 day simple moving average is $388.27 and its 200 day simple moving average is $371.99. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. 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:HUBB) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $3.61 earnings per share. As a group, research analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was 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 recent analyst reports. Barclays cut their target price 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price target on the stock. Mizuho upped their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company dropped their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

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.