Calamos Advisors LLC Acquires 96 Shares of Hubbell Inc (NYSE:HUBB)

Calamos Advisors LLC lifted its holdings in Hubbell Inc (NYSE:HUBB) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,617 shares of the industrial products company’s stock after purchasing an additional 96 shares during the period. Calamos Advisors LLC’s holdings in Hubbell were worth $2,851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HUBB. Vanguard Group Inc. lifted its position in shares of Hubbell by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock worth $2,779,212,000 after buying an additional 65,033 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Hubbell by 6.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after acquiring an additional 92,954 shares in the last quarter. Invesco Ltd. lifted its holdings in Hubbell by 1.9% in the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company’s stock worth $624,347,000 after purchasing an additional 27,914 shares during the last quarter. Geode Capital Management LLC boosted its position in Hubbell by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock worth $536,641,000 after purchasing an additional 29,601 shares during the period. Finally, Northern Trust Corp grew its holdings in Hubbell by 16.4% during the fourth quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company’s stock valued at $217,032,000 after purchasing an additional 72,913 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on HUBB. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Wells Fargo & Company set a $420.00 price target on Hubbell and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, Barclays raised their price objective on shares of Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a research note on Monday, June 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $455.50.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the company’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 sale, the director directly owned 1,727 shares of the company’s stock, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gerben Bakker sold 7,723 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the sale, the chief executive officer directly owned 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Shares of HUBB stock opened at $414.82 on Friday. Hubbell Inc has a 12 month low of $299.43 and a 12 month high of $481.35. The company has a market capitalization of $22.14 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.45 and a beta of 0.99. The stock has a 50 day moving average of $386.64 and a two-hundred day moving average of $383.25. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $1.32 dividend. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.27%. Hubbell’s payout ratio is presently 35.72%.

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.