Hubbell Incorporated (NYSE:HUBB) Position Boosted by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 28.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,597 shares of the industrial products company’s stock after purchasing an additional 356 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Hubbell were worth $663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HUBB. Occidental Asset Management LLC increased its holdings in shares of Hubbell by 1.6% in the first quarter. Occidental Asset Management LLC now owns 10,795 shares of the industrial products company’s stock valued at $4,480,000 after buying an additional 169 shares in the last quarter. Norris Perne & French LLP MI acquired a new position in shares of Hubbell in the 1st quarter worth $276,000. Kathmere Capital Management LLC acquired a new stake in shares of Hubbell during the first quarter worth $207,000. Tevis Investment Management lifted its holdings in shares of Hubbell by 4.6% during the first quarter. Tevis Investment Management now owns 901 shares of the industrial products company’s stock valued at $374,000 after purchasing an additional 40 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Hubbell by 7.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,176 shares of the industrial products company’s stock valued at $1,318,000 after purchasing an additional 212 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on HUBB. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Mizuho raised 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. Wells Fargo & Company cut their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Finally, Barclays decreased their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $365.81 on Wednesday. The firm has a market cap of $19.64 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 1.35 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $387.00 and a 200 day simple moving average of $373.28.

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 analysts’ consensus estimates of $3.54 by $0.06. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate 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 period last year, the business earned $3.61 EPS. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Alyssa R. Flynn sold 1,106 shares of Hubbell 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the sale, the insider now directly owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,055 shares of company stock worth $1,232,139. 0.78% of the stock is owned by corporate insiders.

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.