Greenwood Capital Associates LLC Buys 570 Shares of Hubbell Incorporated (NYSE:HUBB)

Greenwood Capital Associates LLC increased its stake in Hubbell Incorporated (NYSE:HUBB) by 50.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,693 shares of the industrial products company’s stock after acquiring an additional 570 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Hubbell were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV boosted its position in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 30 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the 4th quarter valued at about $30,000. Johnson Financial Group Inc. boosted its position in shares of Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. NBC Securities Inc. acquired a new stake in Hubbell during the first quarter worth approximately $49,000. Finally, CX Institutional acquired a new stake in Hubbell during the first quarter worth approximately $49,000. 88.16% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the sale, the chief executive officer now directly owns 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the transaction, the director now directly owns 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Barclays boosted their target price on shares of Hubbell from $400.00 to $414.00 and gave the company an “equal weight” rating in a research report on Monday. Six research 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 currently has a consensus rating of “Hold” and a consensus target price of $459.25.

Hubbell Trading Up 0.5%

Shares of Hubbell stock opened at $390.89 on Friday. The stock has a market capitalization of $20.86 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The stock has a 50 day moving average price of $367.69 and a two-hundred day moving average price of $389.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

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 return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned $3.60 earnings per share. Hubbell’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell’s dividend payout ratio (DPR) is 35.72%.

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.