New England Capital Financial Advisors LLC Purchases 1,265 Shares of Hubbell Incorporated (NYSE:HUBB)

New England Capital Financial Advisors LLC boosted its position in Hubbell Incorporated (NYSE:HUBB) by 180.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,965 shares of the industrial products company’s stock after acquiring an additional 1,265 shares during the period. Hubbell accounts for 0.4% of New England Capital Financial Advisors LLC’s portfolio, making the stock its 22nd largest position. New England Capital Financial Advisors LLC’s holdings in Hubbell were worth $646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBB. International Assets Investment Management LLC boosted its holdings in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after buying an additional 1,468,463 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Hubbell by 46.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after buying an additional 323,116 shares during the last quarter. abrdn plc raised its position in shares of Hubbell by 2,167.6% during the fourth quarter. abrdn plc now owns 206,643 shares of the industrial products company’s stock worth $67,971,000 after purchasing an additional 197,530 shares during the period. Fiera Capital Corp acquired a new stake in shares of Hubbell during the third quarter worth about $39,502,000. Finally, Invesco Ltd. raised its position in shares of Hubbell by 10.7% during the third quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company’s stock worth $374,538,000 after purchasing an additional 115,886 shares during the period. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the transaction, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the transaction, the chief executive officer now owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the transaction, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at approximately $13,359,965.52. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock valued at $12,065,100 in the last three months. Corporate insiders own 0.78% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE HUBB traded up $7.33 during midday trading on Tuesday, hitting $397.89. 255,026 shares of the company’s stock were exchanged, compared to its average volume of 407,077. The company’s 50 day moving average price is $392.44 and its 200 day moving average price is $340.49. The firm has a market capitalization of $21.34 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. Hubbell Incorporated has a 12 month low of $230.50 and a 12 month high of $429.61. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 EPS. As a group, analysts predict that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $1.22 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 annualized dividend and a yield of 1.23%. Hubbell’s dividend payout ratio is presently 34.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HUBB shares. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their price target on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Mizuho raised their price target on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. Finally, Barclays lifted their target price on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $383.57.

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.