2,290 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co purchased a new position in Hubbell Incorporated (NYSE:HUBB) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,290 shares of the industrial products company’s stock, valued at approximately $950,000.

A number of other institutional investors and hedge funds have also modified their holdings of HUBB. Nvwm LLC acquired a new stake in Hubbell during the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC grew its holdings in Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after buying an additional 51 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Hubbell in the 4th quarter worth $33,000. Finally, Principal Securities Inc. purchased a new position in shares of Hubbell in the 4th quarter worth $40,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In related news, Director Neal J. Keating bought 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the purchase, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the transaction, the insider now owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now directly 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 sold a total of 3,055 shares of company stock worth $1,232,139 over the last ninety days. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Up 4.2 %

Shares of Hubbell stock traded up $15.85 during trading hours on Wednesday, hitting $395.65. 858,229 shares of the company’s stock traded hands, compared to its average volume of 466,749. The stock has a 50 day simple moving average of $378.11 and a 200-day simple moving average of $379.99. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The company has a market cap of $21.24 billion, a PE ratio of 29.50, a PEG ratio of 1.36 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $4.07 earnings per share. Equities research analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.23%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Barclays cut their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average price target of $391.86.

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.