Gateway Investment Advisers LLC Purchases 809 Shares of Hubbell Incorporated (NYSE:HUBB)

Gateway Investment Advisers LLC lifted its position in shares of Hubbell Incorporated (NYSE:HUBBFree Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,290 shares of the industrial products company’s stock after acquiring an additional 809 shares during the quarter. Gateway Investment Advisers LLC owned approximately 0.08% of Hubbell worth $14,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HUBB. Nordea Investment Management AB grew its stake in shares of Hubbell by 119.0% during the fourth quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock worth $50,388,000 after purchasing an additional 83,581 shares during the period. First Hawaiian Bank grew its stake in Hubbell by 10.0% in the fourth quarter. First Hawaiian Bank now owns 4,950 shares of the industrial products company’s stock valued at $1,628,000 after acquiring an additional 450 shares during the period. Czech National Bank acquired a new position in Hubbell in the fourth quarter valued at about $3,090,000. Symmetry Partners LLC boosted its position in shares of Hubbell by 1.7% during the fourth quarter. Symmetry Partners LLC now owns 4,175 shares of the industrial products company’s stock worth $1,370,000 after buying an additional 69 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Hubbell by 1.7% during the third quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock worth $1,810,812,000 after buying an additional 96,435 shares during the period. Institutional investors own 85.97% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. TD Cowen began coverage on Hubbell in a report on Friday, December 8th. They set an “outperform” rating and a $338.00 target price on the stock. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays upped their price objective on Hubbell from $330.00 to $340.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company upped their price objective on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $363.57.

Check Out Our Latest Analysis on HUBB

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the sale, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 13,355 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the sale, the chief executive officer now directly owns 51,783 shares in the company, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock valued at $12,065,100 over the last 90 days. 0.66% of the stock is owned by corporate insiders.

Hubbell Price Performance

Shares of NYSE HUBB opened at $395.15 on Monday. The firm has a market cap of $21.19 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.43 and a beta of 0.93. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a 1-year low of $219.77 and a 1-year high of $404.15. The business’s 50 day moving average is $355.84 and its 200-day moving average is $323.68.

Hubbell (NYSE:HUBBGet Free Report) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.60 earnings per share. Equities research analysts predict that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s dividend payout ratio is currently 34.73%.

About Hubbell

(Free Report)

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.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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