Vaughan Nelson Investment Management L.P. Boosts Stock Position in Hubbell Incorporated (NYSE:HUBB)

Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 81.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,365 shares of the industrial products company’s stock after acquiring an additional 24,321 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.10% of Hubbell worth $22,565,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Van Leeuwen & Company LLC boosted its holdings in Hubbell by 59.8% during the 4th quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company’s stock valued at $2,719,000 after acquiring an additional 3,092 shares during the period. Chevy Chase Trust Holdings LLC boosted its holdings in Hubbell by 265.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock valued at $13,563,000 after acquiring an additional 29,959 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Hubbell by 119.0% in the 4th quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock worth $50,388,000 after buying an additional 83,581 shares during the period. PFG Advisors purchased a new stake in shares of Hubbell in the 4th quarter worth $1,108,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Hubbell in the 4th quarter worth $1,258,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 1.9 %

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 PEG ratio of 1.35 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a fifty day moving average price of $387.00 and a 200-day moving average price of $373.28.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (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 company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company posted $3.61 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, May 31st. Hubbell’s dividend payout ratio is currently 36.39%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Hubbell

In other Hubbell news, Director Neal J. Keating bought 500 shares of Hubbell stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were 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 in the company, valued at $3,246,437.67. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the sale, the insider now owns 4,234 shares in the company, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold 3,055 shares of company stock valued at $1,232,139 in the last ninety days. Corporate insiders own 0.78% of the company’s stock.

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.