Diversified Trust Co Boosts Stock Position in Hubbell Incorporated (NYSE:HUBB)

Diversified Trust Co grew its position in Hubbell Incorporated (NYSE:HUBB) by 56.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,417 shares of the industrial products company’s stock after purchasing an additional 510 shares during the period. Diversified Trust Co’s holdings in Hubbell were worth $588,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. New Mexico Educational Retirement Board boosted its position in Hubbell by 304.6% in the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock valued at $4,685,000 after buying an additional 8,497 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Hubbell by 28.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,597 shares of the industrial products company’s stock valued at $663,000 after buying an additional 356 shares during the period. Occidental Asset Management LLC boosted its position in Hubbell by 1.6% in the 1st quarter. Occidental Asset Management LLC now owns 10,795 shares of the industrial products company’s stock worth $4,480,000 after purchasing an additional 169 shares in the last quarter. Norris Perne & French LLP MI purchased a new stake in Hubbell during the first quarter worth $276,000. Finally, Kathmere Capital Management LLC purchased a new position in Hubbell in the first quarter valued at $207,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction dated 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 directly owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction dated 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 approximately $1,379,004.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold 3,055 shares of company stock worth $1,232,139 over the last ninety days. Corporate insiders own 0.78% of the company’s stock.

Hubbell Price Performance

Hubbell stock opened at $370.93 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. The stock has a market cap of $19.92 billion, a P/E ratio of 27.66, a PEG ratio of 1.35 and a beta of 0.90. The company has a 50-day moving average price of $386.45 and a 200 day moving average price of $373.26. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.54 by $0.06. The firm 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 business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.61 EPS. Sell-side analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Friday, May 31st. Hubbell’s payout ratio is 36.39%.

Analyst Ratings Changes

Several equities research analysts recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. Wells Fargo & Company decreased their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Barclays lowered their target price 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. Finally, Mizuho upped their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock 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 stock. According to data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

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.