Insider Buying: Hubbell Incorporated (NYSE:HUBB) Director Purchases $189,385.00 in Stock

Hubbell Incorporated (NYSE:HUBB) Director Neal J. Keating acquired 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hubbell Stock Up 3.2 %

Hubbell stock opened at $408.91 on Friday. The stock has a 50 day moving average of $400.01 and a two-hundred day moving average of $348.25. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 1.47 and a beta of 0.96. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. Hubbell’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $3.61 EPS. As a group, research analysts expect that Hubbell Incorporated will post 16.35 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a $1.22 dividend. The ex-dividend date is Thursday, May 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.19%. Hubbell’s payout ratio is currently 36.39%.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent analyst reports. Barclays dropped their price target 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. Mizuho increased their target price on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company reduced their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

Hedge Funds Weigh In On Hubbell

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nvwm LLC acquired a new stake in shares of Hubbell in the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC lifted its stake 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 valued at $30,000 after purchasing an additional 51 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Hubbell during the 4th quarter valued at approximately $33,000. Finally, Principal Securities Inc. purchased a new stake in shares of Hubbell during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

About Hubbell

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.