Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating Purchases 500 Shares

Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating purchased 500 shares of the company’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 purchase, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hubbell Stock Performance

HUBB opened at $408.91 on Friday. The stock has a 50-day moving average of $400.01 and a 200-day moving average of $348.25. 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 52-week low of $248.37 and a 52-week high of $429.61. The company has a market cap of $21.93 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96.

Hubbell (NYSE:HUBB) last announced 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. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company posted $3.61 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.35 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Hedge Funds Weigh In On Hubbell

Institutional investors have recently made changes to their positions in the business. Nvwm LLC acquired a new position in shares of Hubbell during the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares during the period. Baillie Gifford & Co. acquired a new position in shares of Hubbell during the fourth quarter valued at about $33,000. Finally, Principal Securities Inc. bought a new stake in shares of Hubbell in the fourth quarter valued at about $40,000. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HUBB has been the topic of several analyst reports. Wells Fargo & Company dropped their target price 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. Mizuho boosted their target price on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Barclays reduced 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. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Hubbell 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.