Pinnacle Wealth Planning Services Inc. Purchases New Stake in Hubbell Incorporated (NYSE:HUBB)

Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 537 shares of the industrial products company’s stock, valued at approximately $223,000.

Several other institutional investors also recently added to or reduced their stakes in HUBB. Nvwm LLC purchased a new stake in shares of Hubbell in the first quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after buying an additional 74 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Hubbell in the fourth quarter valued at approximately $33,000. Finally, Principal Securities Inc. purchased a new stake in Hubbell in the fourth quarter valued at approximately $40,000. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, Director Neal J. Keating bought 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the acquisition, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the sale, the insider now owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the purchase, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 3,055 shares of company stock worth $1,232,139. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays lowered 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 note on Thursday, May 2nd. Wells Fargo & Company lowered 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. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and a consensus target price of $386.57.

Hubbell Price Performance

NYSE HUBB traded up $1.45 on Friday, reaching $370.23. 533,367 shares of the company’s stock traded hands, compared to its average volume of 549,122. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The stock has a 50-day simple moving average of $382.27 and a 200 day simple moving average of $377.34. The stock has a market cap of $19.88 billion, a PE ratio of 27.61, a P/E/G ratio of 1.37 and a beta of 0.90.

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

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, May 31st. Hubbell’s dividend payout ratio is 36.39%.

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.