Boston Common Asset Management LLC Invests $3.26 Million in Hubbell Incorporated (NYSE:HUBB)

Boston Common Asset Management LLC bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,864 shares of the industrial products company’s stock, valued at approximately $3,264,000.

Several other hedge funds have also made changes to their positions in the business. Insight Wealth Strategies LLC boosted its stake in shares of Hubbell by 16.7% during the first quarter. Insight Wealth Strategies LLC now owns 11,901 shares of the industrial products company’s stock worth $3,938,000 after buying an additional 1,699 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Hubbell by 49.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 341 shares of the industrial products company’s stock worth $113,000 after buying an additional 113 shares during the period. California State Teachers Retirement System boosted its stake in shares of Hubbell by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 81,619 shares of the industrial products company’s stock worth $34,189,000 after buying an additional 980 shares during the period. Siemens Fonds Invest GmbH boosted its stake in shares of Hubbell by 2,390.4% during the fourth quarter. Siemens Fonds Invest GmbH now owns 14,021 shares of the industrial products company’s stock worth $5,873,000 after buying an additional 13,458 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hubbell during the fourth quarter worth about $13,908,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 0.6%

Shares of Hubbell stock opened at $397.41 on Friday. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market cap of $21.21 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The company has a 50-day moving average of $356.40 and a two-hundred day moving average of $393.83.

Hubbell (NYSE:HUBB) last issued its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the business posted $3.60 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.33%. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director now directly owns 1,727 shares of the company’s stock, valued at $667,122.83. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the transaction, the chief executive officer now directly owns 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HUBB has been the subject of several recent research reports. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Barclays cut their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $457.50.

Hubbell Company 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.