Fifth Third Bancorp Acquires 531 Shares of Hubbell Incorporated (NYSE:HUBB)

Fifth Third Bancorp grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,223 shares of the industrial products company’s stock after purchasing an additional 531 shares during the quarter. Fifth Third Bancorp’s holdings in Hubbell were worth $3,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HUBB. Savant Capital LLC raised its holdings in shares of Hubbell by 5.6% during the 4th quarter. Savant Capital LLC now owns 1,329 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 71 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell in the 4th quarter valued at $30,000. Avestar Capital LLC grew its stake in Hubbell by 34.7% in the 4th quarter. Avestar Capital LLC now owns 777 shares of the industrial products company’s stock valued at $325,000 after buying an additional 200 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in Hubbell by 12.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 30,111 shares of the industrial products company’s stock valued at $12,740,000 after buying an additional 3,244 shares during the last quarter. Finally, Bogart Wealth LLC grew its stake in Hubbell by 93.9% in the 4th quarter. Bogart Wealth LLC now owns 413 shares of the industrial products company’s stock valued at $173,000 after buying an additional 200 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

NYSE:HUBB opened at $382.01 on Friday. The company has a 50-day moving average of $368.98 and a 200-day moving average of $388.58. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of 26.60, a PEG 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 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 released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.60 earnings per share. As a group, equities research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, May 30th. Hubbell’s payout ratio is 35.72%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HUBB shares. Barclays raised their target price on shares of Hubbell from $400.00 to $414.00 and gave the company an “equal weight” rating in a research note on Monday, June 9th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $459.25.

Insider Transactions at Hubbell

In other Hubbell news, 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 value of $154,516.00. Following the completion of the sale, the director now owns 1,727 shares in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer now owns 82,101 shares of the company’s stock, valued at $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.

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.