United Community Bank Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

United Community Bank acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 390 shares of the industrial products company’s stock, valued at approximately $162,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in Hubbell by 32,734.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after acquiring an additional 1,468,463 shares in the last quarter. Vanguard Group Inc. raised its stake in Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares in the last quarter. Norges Bank bought a new stake in Hubbell during the fourth quarter worth about $143,024,000. Massachusetts Financial Services Co. MA grew its stake in Hubbell by 24.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock worth $417,267,000 after buying an additional 248,493 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in Hubbell by 575.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock valued at $94,793,000 after buying an additional 245,536 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Up 0.1 %

NYSE:HUBB traded up $0.25 during trading hours on Wednesday, reaching $371.40. The company had a trading volume of 61,279 shares, compared to its average volume of 451,299. The business’s 50-day simple moving average is $384.54 and its two-hundred day simple moving average is $374.99. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.39 and a beta of 0.90. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64.

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. 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 prior year, the business earned $3.61 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts expect that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, May 31st. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Activity

In other Hubbell news, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell 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 in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neal J. Keating acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $378.77 per share, with a total value of $189,385.00. Following the acquisition, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. Insiders sold 3,055 shares of company stock worth $1,232,139 over the last three months. 0.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company lowered their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Finally, Barclays cut their target price 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average 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.