Allspring Global Investments Holdings LLC Acquires 345 Shares of Hubbell Incorporated (NYSE:HUBB)

Allspring Global Investments Holdings LLC increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,437 shares of the industrial products company’s stock after purchasing an additional 345 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hubbell were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Xponance Inc. boosted its holdings in shares of Hubbell by 0.4% during the 4th quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock valued at $3,006,000 after acquiring an additional 36 shares during the last quarter. Tevis Investment Management raised its stake in Hubbell by 4.6% during the 1st quarter. Tevis Investment Management now owns 901 shares of the industrial products company’s stock valued at $374,000 after buying an additional 40 shares during the last quarter. Czech National Bank raised its stake in Hubbell by 0.4% during the 1st quarter. Czech National Bank now owns 9,435 shares of the industrial products company’s stock valued at $3,916,000 after buying an additional 42 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of Hubbell by 4.9% during the 4th quarter. Avestar Capital LLC now owns 971 shares of the industrial products company’s stock valued at $319,000 after buying an additional 45 shares during the period. Finally, Boston Family Office LLC boosted its stake in shares of Hubbell by 0.4% in the 4th quarter. Boston Family Office LLC now owns 12,152 shares of the industrial products company’s stock worth $3,997,000 after buying an additional 50 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the transaction, the insider now owns 3,436 shares in the company, valued at $1,379,004.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the transaction, the insider now owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold a total of 3,055 shares of company stock worth $1,232,139 over the last quarter. Insiders own 0.78% of the company’s stock.

Hubbell Stock Up 1.9 %

Shares of HUBB stock opened at $365.81 on Wednesday. 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 Incorporated has a one year low of $248.37 and a one year high of $429.61. The company’s fifty day moving average price is $387.00 and its 200-day moving average price is $373.28. The company has a market capitalization of $19.64 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.35 and a beta of 0.90.

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

Hubbell Dividend Announcement

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

Wall Street Analysts Forecast Growth

HUBB has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st. Mizuho increased their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. Finally, Barclays decreased 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $386.57.

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.