Advisors Asset Management Inc. Increases Holdings in Hubbell Incorporated (NYSE:HUBB)

Advisors Asset Management Inc. increased its stake in Hubbell Incorporated (NYSE:HUBB) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,417 shares of the industrial products company’s stock after purchasing an additional 796 shares during the quarter. Advisors Asset Management Inc.’s holdings in Hubbell were worth $7,644,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nvwm LLC bought a new stake in Hubbell during the first quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its stake in Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares during the last quarter. Baillie Gifford & Co. bought a new stake in Hubbell during the fourth quarter worth about $33,000. Finally, Principal Securities Inc. bought a new stake in Hubbell during the fourth quarter worth about $40,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Up 3.2 %

Shares of Hubbell stock traded up $11.54 during midday trading on Friday, hitting $367.09. The company had a trading volume of 333,062 shares, compared to its average volume of 461,246. 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 stock has a market capitalization of $19.71 billion, a P/E ratio of 26.53, a P/E/G ratio of 1.32 and a beta of 0.90. The company has a 50 day moving average of $379.72 and a 200 day moving average of $378.31. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $3.61 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts predict that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HUBB shares. Barclays decreased their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Wells Fargo & Company decreased their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $386.57.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the transaction, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Neal J. Keating bought 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, with a total value of $189,385.00. Following the acquisition, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the transaction, the insider now directly owns 3,436 shares in the company, valued at $1,379,004.24. The disclosure for this sale can be found here. Insiders have sold a total of 3,055 shares of company stock worth $1,232,139 in the last ninety days. Insiders own 0.66% 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.