Liberty Wealth Management LLC Acquires New Stake in Hubbell Inc (NYSE:HUBB)

Liberty Wealth Management LLC acquired a new stake in Hubbell Inc (NYSE:HUBB) during the 1st quarter, HoldingsChannel reports. The firm acquired 13,236 shares of the industrial products company’s stock, valued at approximately $4,380,000.

Several other institutional investors have also bought and sold shares of the company. LGT Capital Partners LTD. lifted its position in shares of Hubbell by 7.9% during the first quarter. LGT Capital Partners LTD. now owns 100,900 shares of the industrial products company’s stock worth $33,389,000 after acquiring an additional 7,430 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Hubbell during the first quarter worth $606,000. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Hubbell by 35.9% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,760 shares of the industrial products company’s stock worth $1,252,000 after acquiring an additional 994 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Hubbell during the first quarter worth $631,000. Finally, Castellan Group purchased a new stake in shares of Hubbell during the first quarter worth $669,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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 stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the sale, the director owned 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $2,970,497.49. Following the sale, the chief executive officer owned 82,101 shares in the company, 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. Company insiders own 0.66% of the company’s stock.

Hubbell Trading Down 2.6%

Shares of HUBB stock opened at $426.27 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.73 and a current ratio of 1.30. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The company has a market capitalization of $22.75 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.39 and a beta of 0.99. The business’s fifty day moving average is $408.97 and its 200 day moving average is $383.20.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. On average, equities research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is presently 34.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HUBB shares. JPMorgan Chase & Co. increased their target price on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Barclays increased their target price on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Company increased their target price on Hubbell from $420.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $462.29.

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.