New York Life Investment Management LLC Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

New York Life Investment Management LLC purchased a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,692 shares of the industrial products company’s stock, valued at approximately $2,530,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. North Star Asset Management Inc. increased its stake in shares of Hubbell by 1.5% in the third quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock worth $746,000 after purchasing an additional 36 shares in the last quarter. Xponance Inc. grew its stake in Hubbell by 0.4% during the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock valued at $3,006,000 after acquiring an additional 36 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in Hubbell by 2.4% during the third quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock valued at $603,000 after acquiring an additional 45 shares in the last quarter. Grove Bank & Trust grew its stake in Hubbell by 14.3% during the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 50 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Hubbell by 6.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 881 shares of the industrial products company’s stock valued at $276,000 after acquiring an additional 50 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Trading Up 1.9 %

NYSE HUBB opened at $379.89 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. The company’s 50-day simple moving average is $398.06 and its two-hundred day simple moving average is $345.96. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61.

Hubbell (NYSE:HUBB) last posted its 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. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.61 EPS. Equities analysts forecast that Hubbell Incorporated will post 16.35 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Barclays lowered their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Mizuho raised their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $386.57.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the transaction, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the transaction, the vice president now owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,747 shares of company stock valued at $1,693,364. Company insiders own 0.78% of the company’s stock.

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.