Team Hewins LLC Acquires New Position in Hubbell Incorporated (NYSE:HUBB)

Team Hewins LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 534 shares of the industrial products company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HUBB. 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 in 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 in the last quarter. Baillie Gifford & Co. purchased a new position in Hubbell during the 4th quarter valued at about $33,000. Principal Securities Inc. purchased a new position in Hubbell during the 4th quarter valued at about $40,000. Finally, Riverview Trust Co purchased a new position in Hubbell during the 1st quarter valued at about $52,000. 88.16% of the stock is currently owned by institutional investors.

Insider Activity at Hubbell

In other news, Director Neal J. Keating purchased 500 shares of Hubbell stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, with a total value of $189,385.00. Following the completion of the purchase, the director now directly owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Neal J. Keating purchased 500 shares of Hubbell stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, with a total value of $189,385.00. Following the completion of the purchase, the director now directly owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the sale, the insider now directly owns 3,436 shares in the company, valued at $1,379,004.24. The disclosure for this sale can be found here. Insiders sold a total of 3,055 shares of company stock worth $1,232,139 over the last quarter. 0.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HUBB. Barclays cut their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company cut their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Finally, Mizuho boosted their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $386.57.

Hubbell Trading Up 0.8 %

Shares of Hubbell stock traded up $2.96 during midday trading on Thursday, reaching $378.28. 262,383 shares of the company’s stock traded hands, compared to its average volume of 451,566. 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 company has a market cap of $20.31 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. The stock has a 50 day moving average of $384.58 and a 200-day moving average of $374.99. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The company had revenue of $1.40 billion during 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 for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 earnings per share. As a group, equities analysts expect that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a dividend of $1.22 per share. The ex-dividend date was Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.29%. Hubbell’s dividend payout ratio is presently 36.39%.

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.