Price T Rowe Associates Inc. MD Raises Stock Position in Hubbell Incorporated (NYSE:HUBB)

Price T Rowe Associates Inc. MD raised its position in Hubbell Incorporated (NYSE:HUBB) by 16.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,980,456 shares of the industrial products company’s stock after purchasing an additional 286,134 shares during the period. Price T Rowe Associates Inc. MD owned 3.69% of Hubbell worth $821,989,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC lifted its position in Hubbell by 85.3% in the 1st quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock worth $739,000 after buying an additional 820 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Hubbell by 4.5% during the 1st quarter. Advisors Asset Management Inc. now owns 18,417 shares of the industrial products company’s stock valued at $7,644,000 after purchasing an additional 796 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Hubbell in the 1st quarter worth $252,000. MQS Management LLC bought a new stake in Hubbell in the first quarter worth $296,000. Finally, Natixis Investment Managers International lifted its stake in Hubbell by 65.6% in the first quarter. Natixis Investment Managers International now owns 1,300 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 515 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Trading Up 3.2 %

Shares of NYSE HUBB traded up $11.54 during trading hours on Friday, hitting $367.09. The company’s stock had a trading volume of 342,262 shares, compared to its average volume of 557,696. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.36 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. The business has a 50-day simple moving average of $379.20 and a 200-day simple moving average of $378.97.

Hubbell (NYSE:HUBB) last posted its 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. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm earned $3.61 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Barclays reduced their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

Insider Activity at Hubbell

In other news, Director Neal J. Keating acquired 500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Hubbell news, Director Neal J. Keating bought 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price 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 filing with the SEC, which is available at this link. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold 3,055 shares of company stock worth $1,232,139 over the last 90 days. 0.66% of the stock is owned by company insiders.

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.