Hubbell Incorporated (NYSE:HUBB) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. boosted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 21.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 322 shares of the industrial products company’s stock after acquiring an additional 56 shares during the quarter. UMB Bank n.a.’s holdings in Hubbell were worth $107,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Hubbell in the 4th quarter valued at $195,218,000. Marshall Wace LLP grew its position in Hubbell by 418.1% during the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock worth $128,620,000 after purchasing an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new position in Hubbell in the fourth quarter valued at $95,868,000. GAMMA Investing LLC raised its holdings in shares of Hubbell by 52,429.8% in the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company’s stock valued at $636,200,000 after buying an additional 191,893 shares during the last quarter. Finally, PointState Capital LP purchased a new stake in shares of Hubbell in the fourth quarter valued at about $78,443,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $390.89 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $367.69 and its two-hundred day moving average is $389.61. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The firm has a market capitalization of $20.86 billion, a PE ratio of 27.22, a P/E/G ratio of 1.34 and a beta of 0.99.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the firm earned $3.60 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

Wall Street Analyst Weigh In

HUBB has been the subject of several recent research reports. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. JPMorgan Chase & Co. increased their price objective on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Barclays boosted their target price on Hubbell from $400.00 to $414.00 and gave the company an “equal weight” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $459.25.

Insider Activity at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the transaction, the director now owns 1,727 shares of the company’s stock, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the transaction, the chief executive officer now owns 82,101 shares of the company’s stock, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hubbell 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.