Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Czech National Bank

Czech National Bank increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,935 shares of the industrial products company’s stock after buying an additional 705 shares during the quarter. Czech National Bank’s holdings in Hubbell were worth $4,684,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nvwm LLC acquired a new position in shares of Hubbell in the 1st quarter valued at about $25,000. Quarry LP purchased a new position in Hubbell during the second quarter valued at approximately $49,000. Riverview Trust Co acquired a new position in Hubbell in the first quarter valued at approximately $52,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the 1st quarter worth approximately $56,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hubbell during the 2nd quarter worth approximately $62,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HUBB. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $385.00 to $454.00 in a research note on Thursday. Barclays upped their price objective on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley initiated coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the company from $431.00 to $441.00 in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus price target of $423.13.

Hubbell Price Performance

Shares of Hubbell stock opened at $456.60 on Friday. The stock has a market capitalization of $24.51 billion, a P/E ratio of 33.75, a PEG ratio of 1.67 and a beta of 0.90. The business has a 50 day simple moving average of $398.01 and a two-hundred day simple moving average of $391.93. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $457.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company earned $4.07 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that Hubbell Incorporated will post 16.41 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.07%. Hubbell’s dividend payout ratio is presently 36.07%.

Insider Activity at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate 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.