Clearbridge Investments LLC Invests $1.26 Million in Hubbell Incorporated (NYSE:HUBB)

Clearbridge Investments LLC bought a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,825 shares of the industrial products company’s stock, valued at approximately $1,258,000.

Several other large investors have also made changes to their positions in HUBB. Xponance Inc. grew its holdings in Hubbell by 0.4% during the 4th quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after acquiring an additional 36 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in Hubbell by 2.4% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock worth $603,000 after acquiring an additional 45 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 51 shares during the last quarter. Essex Financial Services Inc. grew its holdings in Hubbell by 3.1% during the 4th quarter. Essex Financial Services Inc. now owns 1,703 shares of the industrial products company’s stock worth $560,000 after acquiring an additional 52 shares during the last quarter. Finally, Waverly Advisors LLC grew its holdings in Hubbell by 6.9% during the 3rd quarter. Waverly Advisors LLC now owns 882 shares of the industrial products company’s stock worth $276,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the sale, the insider now directly owns 4,234 shares in the company, valued at approximately $1,722,348.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the sale, the insider now directly owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the sale, the insider now directly owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold 3,055 shares of company stock worth $1,232,139 in the last ninety days. Company insiders own 0.78% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $413.00 on Monday. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 1.60 and a beta of 0.96. The firm’s 50 day simple moving average is $402.15 and its 200 day simple moving average is $358.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a $1.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.18%. Hubbell’s dividend payout ratio is 36.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays decreased their price objective on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Mizuho upped their target price on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company cut their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $386.57.

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.