Kathmere Capital Management LLC Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Kathmere Capital Management LLC bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 499 shares of the industrial products company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. LPL Financial LLC grew its holdings in Hubbell by 25.1% during the 3rd quarter. LPL Financial LLC now owns 28,155 shares of the industrial products company’s stock worth $8,824,000 after acquiring an additional 5,645 shares in the last quarter. Stifel Financial Corp raised its position in shares of Hubbell by 10.3% in the 3rd quarter. Stifel Financial Corp now owns 28,250 shares of the industrial products company’s stock valued at $8,854,000 after purchasing an additional 2,630 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Hubbell by 23.5% in the 3rd quarter. Federated Hermes Inc. now owns 9,317 shares of the industrial products company’s stock valued at $2,920,000 after purchasing an additional 1,770 shares during the last quarter. Natixis Advisors L.P. raised its position in shares of Hubbell by 1.2% in the 3rd quarter. Natixis Advisors L.P. now owns 24,253 shares of the industrial products company’s stock valued at $7,601,000 after purchasing an additional 294 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Hubbell by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 24,284 shares of the industrial products company’s stock valued at $7,611,000 after purchasing an additional 122 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on HUBB. Barclays reduced their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company cut their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. Finally, Mizuho lifted their target price on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $386.57.

Hubbell Stock Down 1.1 %

Shares of HUBB opened at $365.62 on Friday. The firm has a market cap of $19.63 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61. The company’s 50-day moving average price is $388.27 and its 200 day moving average price is $371.99. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (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 company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm earned $3.61 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, May 31st. Hubbell’s payout ratio is currently 36.39%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the sale, the insider now owns 3,436 shares in the company, valued at $1,379,004.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s 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 transaction, the insider now owns 3,436 shares in the company, valued at $1,379,004.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Neal J. Keating acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the purchase, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 3,055 shares of company stock valued at $1,232,139. 0.66% of the stock is currently owned by company insiders.

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.