Klein Pavlis & Peasley Financial Inc. Invests $787,000 in Hubbell Incorporated (NYSE:HUBB)

Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,152 shares of the industrial products company’s stock, valued at approximately $787,000.

Several other large investors also recently added to or reduced their stakes in HUBB. Vanguard Group Inc. grew its position in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after buying an additional 918,808 shares in the last quarter. Norges Bank purchased a new position in Hubbell during the 4th quarter valued at about $143,024,000. Bank of New York Mellon Corp increased its position in Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Hubbell by 24.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock worth $417,267,000 after purchasing an additional 248,493 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Up 0.7 %

NYSE:HUBB traded up $2.86 during mid-day trading on Tuesday, hitting $387.97. 478,361 shares of the company’s stock traded hands, compared to its average volume of 458,499. The company has a fifty day moving average of $374.18 and a 200 day moving average of $385.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.81. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The company has a market capitalization of $20.83 billion, a P/E ratio of 28.93, a P/E/G ratio of 1.43 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.07 earnings per share. On average, analysts forecast that Hubbell Incorporated will post 16.38 EPS for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.26%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HUBB. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Wells Fargo & Company raised their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Barclays reduced their target price on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Four 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $402.57.

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. Company insiders own 0.66% 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.