Park Avenue Securities LLC Acquires 392 Shares of Hubbell Incorporated (NYSE:HUBB)

Park Avenue Securities LLC grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 47.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,211 shares of the industrial products company’s stock after acquiring an additional 392 shares during the period. Park Avenue Securities LLC’s holdings in Hubbell were worth $502,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HUBB. EverSource Wealth Advisors LLC raised its stake in shares of Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 74 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Hubbell during the fourth quarter worth $33,000. Principal Securities Inc. acquired a new stake in shares of Hubbell during the fourth quarter worth $40,000. Finally, TFO Wealth Partners LLC increased its position in shares of Hubbell by 13,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 266 shares of the industrial products company’s stock worth $87,000 after buying an additional 264 shares during the period. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Mizuho raised their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Barclays reduced their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $386.57.

Hubbell Stock Down 1.1 %

Shares of NYSE HUBB opened at $365.62 on Friday. The stock has a market capitalization of $19.63 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.44 and a beta of 0.94. The company has a 50-day moving average price of $388.27 and a 200-day moving average price of $371.99. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $3.61 earnings per share. On average, equities research analysts forecast that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, May 31st. Hubbell’s payout ratio is currently 36.39%.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the transaction, the insider now directly owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were 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 of the company’s stock, valued at $1,722,348.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the sale, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The disclosure for this sale can be found here. Insiders have sold 3,055 shares of company stock valued at $1,232,139 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.

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.