InterOcean Capital Group LLC Makes New $531,000 Investment in Hubbell Incorporated (NYSE:HUBB)

InterOcean Capital Group LLC acquired a new position in Hubbell Incorporated (NYSE:HUBB) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,278 shares of the industrial products company’s stock, valued at approximately $531,000.

A number of other large investors have also modified their holdings of HUBB. Nvwm LLC acquired a new position in shares of Hubbell during the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC raised its position in shares of Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Hubbell by 127.5% during 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 during the last quarter. Baillie Gifford & Co. acquired a new position in shares of Hubbell during the 4th quarter worth about $33,000. Finally, Principal Securities Inc. acquired a new position in shares of Hubbell during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

NYSE HUBB traded down $1.15 during trading hours on Thursday, hitting $355.83. 737,016 shares of the company’s stock traded hands, compared to its average volume of 462,043. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The company has a market capitalization of $19.10 billion, a PE ratio of 26.61, a PEG ratio of 1.40 and a beta of 0.90. 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 is $380.43 and its 200-day moving average is $378.46.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $1.22 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.88 annualized dividend and a dividend yield of 1.37%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Activity

In other news, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $378.77 per share, with a total value of $189,385.00. Following the purchase, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Neal J. Keating acquired 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’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 transaction 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 disclosure for this sale can be found here. Insiders sold a total of 3,055 shares of company stock valued at $1,232,139 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on HUBB. Wells Fargo & Company reduced their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st. Barclays reduced their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

Hubbell 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.