Rockport Wealth LLC Acquires Shares of 976 Hubbell Incorporated (NYSE:HUBB)

Rockport Wealth LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 976 shares of the industrial products company’s stock, valued at approximately $405,000.

Several other institutional investors also recently bought and sold shares of HUBB. Nordea Investment Management AB grew its stake in shares of Hubbell by 4.1% during the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after purchasing an additional 6,275 shares during the period. Van Leeuwen & Company LLC grew its stake in shares of Hubbell by 59.8% during the 4th quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company’s stock worth $2,719,000 after purchasing an additional 3,092 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in shares of Hubbell by 265.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock worth $13,563,000 after purchasing an additional 29,959 shares during the period. PFG Advisors acquired a new position in shares of Hubbell during the 4th quarter worth $1,108,000. Finally, Clearbridge Investments LLC acquired a new position in shares of Hubbell during the 4th quarter worth $1,258,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target 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. Wells Fargo & Company decreased their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $386.57.

Insider Transactions at Hubbell

In related news, Director Neal J. Keating acquired 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired 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 in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were 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 owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Neal J. Keating bought 500 shares of the company’s stock in a transaction that occurred 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 disclosure for this purchase can be found here. Insiders have sold a total of 3,055 shares of company stock worth $1,232,139 in the last three months. Company insiders own 0.66% of the company’s stock.

Hubbell Trading Up 0.1 %

NYSE:HUBB traded up $0.34 on Tuesday, reaching $379.60. The stock had a trading volume of 372,737 shares, compared to its average volume of 458,701. The company has a market cap of $20.38 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 1.37 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 fifty day moving average is $381.82 and its two-hundred day moving average is $378.18. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61.

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

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders 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 annualized dividend and a dividend yield of 1.29%. Hubbell’s payout ratio is currently 36.39%.

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.