Rafferty Asset Management LLC Buys Shares of 4,500 Hubbell Incorporated (NYSE:HUBB)

Rafferty Asset Management LLC bought a new position in shares of Hubbell Incorporated (NYSE:HUBBFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,500 shares of the industrial products company’s stock, valued at approximately $1,480,000.

Other institutional investors also recently modified their holdings of the company. Atria Wealth Solutions Inc. increased its stake in shares of Hubbell by 2.4% in the third quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock valued at $603,000 after buying an additional 45 shares during the period. Janney Montgomery Scott LLC increased its position in Hubbell by 11.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 13,686 shares of the industrial products company’s stock valued at $4,290,000 after acquiring an additional 1,411 shares during the period. Van ECK Associates Corp raised its stake in shares of Hubbell by 3.4% during the third quarter. Van ECK Associates Corp now owns 6,991 shares of the industrial products company’s stock valued at $2,191,000 after acquiring an additional 233 shares during the last quarter. Pathstone Family Office LLC lifted its holdings in shares of Hubbell by 65.6% during the third quarter. Pathstone Family Office LLC now owns 4,682 shares of the industrial products company’s stock worth $1,467,000 after purchasing an additional 1,854 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of Hubbell by 4.9% in the third quarter. HighTower Advisors LLC now owns 27,345 shares of the industrial products company’s stock worth $8,572,000 after purchasing an additional 1,272 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Read Our Latest Analysis on HUBB

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Neal J. Keating purchased 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price 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 approximately $3,246,437.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Neal J. Keating bought 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $378.77 per share, with a total value of $189,385.00. Following the completion of the transaction, the director now directly owns 8,571 shares in the company, valued at $3,246,437.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction 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 transaction, the insider now directly owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,055 shares of company stock valued at $1,232,139. Company insiders own 0.78% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock opened at $369.01 on Tuesday. The firm has a 50 day moving average of $396.08 and a 200-day moving average of $365.54. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 1.42 and a beta of 0.94. 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 Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61.

Hubbell (NYSE:HUBBGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 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 business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company posted $3.61 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Hubbell Announces Dividend

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 $1.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.88 annualized dividend and a yield of 1.32%. Hubbell’s payout ratio is currently 36.39%.

Hubbell Company Profile

(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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