Neal J. Keating Buys 500 Shares of Hubbell Incorporated (NYSE:HUBB) Stock

Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating acquired 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now directly owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hubbell Stock Up 0.8 %

NYSE:HUBB opened at $396.37 on Thursday. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The stock’s 50 day moving average price is $399.44 and its two-hundred day moving average price is $347.82. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping 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 return on equity of 29.55% and a net margin of 13.23%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.61 EPS. Equities research analysts expect that Hubbell Incorporated will post 16.35 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its stake in Hubbell by 6.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,056 shares of the industrial products company’s stock valued at $3,465,000 after buying an additional 713 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Hubbell by 50.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,630 shares of the industrial products company’s stock worth $2,705,000 after purchasing an additional 2,886 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Hubbell by 8.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,410 shares of the industrial products company’s stock valued at $2,949,000 after purchasing an additional 711 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Hubbell by 155.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,649 shares of the industrial products company’s stock valued at $16,501,000 after buying an additional 32,040 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in Hubbell by 10.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,868 shares of the industrial products company’s stock worth $3,720,000 after buying an additional 1,148 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays cut their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective on the stock. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho lifted their target price on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company dropped 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. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently 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.