Hartford Investment Management Co. Takes $1.19 Million Position in Hubbell Incorporated (NYSE:HUBB)

Hartford Investment Management Co. purchased a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,616 shares of the industrial products company’s stock, valued at approximately $1,189,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Manhattan Co. bought a new position in Hubbell during the first quarter worth $28,000. Atlas Capital Advisors LLC bought a new position in Hubbell during the fourth quarter worth $40,000. Coppell Advisory Solutions Corp. bought a new position in Hubbell during the fourth quarter worth $47,000. Coppell Advisory Solutions LLC bought a new position in Hubbell during the second quarter worth $50,000. Finally, Compass Wealth Management LLC bought a new position in Hubbell during the fourth quarter worth $82,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Hubbell stock opened at $417.08 on Friday. The stock has a 50-day simple moving average of $381.33 and a 200 day simple moving average of $333.28. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a 12-month low of $219.77 and a 12-month high of $429.61. The stock has a market capitalization of $22.37 billion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 2.51 and a beta of 0.94.

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

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.22 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.17%. Hubbell’s dividend payout ratio is 34.73%.

Analyst Ratings Changes

A number of brokerages recently issued reports on HUBB. Wells Fargo & Company boosted 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. Mizuho lifted their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Barclays lifted their price target on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.57.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the sale, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The disclosure for this sale can be found here. In the last three months, insiders sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is currently owned by insiders.

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.