HTLF Bank Buys Shares of 3,000 Hubbell Incorporated (NYSE:HUBB)

HTLF Bank purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,000 shares of the industrial products company’s stock, valued at approximately $987,000.

Several other hedge funds have also made changes to their positions in the business. Panagora Asset Management Inc. increased its stake in shares of Hubbell by 87.6% during the first quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company’s stock worth $997,000 after buying an additional 2,533 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Hubbell by 9.4% during the first quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company’s stock worth $6,006,000 after buying an additional 2,736 shares during the period. Blair William & Co. IL increased its stake in shares of Hubbell by 0.5% during the first quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock worth $4,224,000 after buying an additional 120 shares during the period. Vanguard Group Inc. increased its stake in Hubbell by 0.4% in the first quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock valued at $1,002,421,000 after purchasing an additional 23,865 shares during the last quarter. Finally, Covestor Ltd increased its stake in Hubbell by 137.3% in the first quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the transaction, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,125 shares of company stock valued at $12,065,100. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Down 0.6 %

HUBB traded down $2.18 during midday trading on Friday, hitting $390.10. The company’s stock had a trading volume of 61,053 shares, compared to its average volume of 405,285. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a market cap of $20.92 billion, a P/E ratio of 27.93, a PEG ratio of 2.38 and a beta of 0.94. The firm has a 50-day moving average price of $391.31 and a two-hundred day moving average price of $338.83. Hubbell Incorporated has a 52-week low of $229.83 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 EPS. On average, research analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s dividend payout ratio is currently 34.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HUBB shares. Barclays increased their price target on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho raised their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. 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 target price on the stock. Finally, Wells Fargo & Company raised their target price on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.57.

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.