Northwest Investment Counselors LLC Takes Position in Hubbell Incorporated (NYSE:HUBB)

Northwest Investment Counselors LLC purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 135 shares of the industrial products company’s stock, valued at approximately $56,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after acquiring an additional 918,808 shares during the period. International Assets Investment Management LLC lifted its stake in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Hubbell by 24.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after purchasing an additional 248,493 shares during the last quarter. FIL Ltd raised its holdings in shares of Hubbell by 0.6% during the 4th quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock worth $366,925,000 after buying an additional 6,526 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Hubbell by 6.5% during the 3rd quarter. Northern Trust Corp now owns 558,234 shares of the industrial products company’s stock worth $174,956,000 after buying an additional 34,022 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 0.5 %

Shares of HUBB stock traded up $1.87 during trading hours on Monday, hitting $379.26. 119,373 shares of the company were exchanged, compared to its average volume of 439,796. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The company has a 50 day simple moving average of $390.40 and a two-hundred day simple moving average of $370.64. The firm has a market cap of $20.36 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.47 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $3.61 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts anticipate that Hubbell Incorporated will post 16.33 EPS for the current year.

Hubbell Announces Dividend

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

Insiders Place Their Bets

In other Hubbell news, Director Neal J. Keating bought 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $378.77 per share, with a total value of $189,385.00. Following the completion of the transaction, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the sale, the insider now owns 4,234 shares in the company, valued at approximately $1,722,348.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Neal J. Keating purchased 500 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 3,055 shares of company stock worth $1,232,139. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on HUBB shares. Mizuho boosted their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Wells Fargo & Company dropped their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. Finally, Barclays lowered their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $386.57.

About Hubbell

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.