Klein Pavlis & Peasley Financial Inc. Purchases 994 Shares of Hubbell Inc (NYSE:HUBB)

Klein Pavlis & Peasley Financial Inc. increased its position in shares of Hubbell Inc (NYSE:HUBB) by 35.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,760 shares of the industrial products company’s stock after buying an additional 994 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Hubbell were worth $1,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. LPL Financial LLC grew its holdings in Hubbell by 12.2% in the fourth quarter. LPL Financial LLC now owns 25,158 shares of the industrial products company’s stock worth $10,538,000 after purchasing an additional 2,742 shares during the period. Clearbridge Investments LLC grew its holdings in Hubbell by 3.2% in the fourth quarter. Clearbridge Investments LLC now owns 3,948 shares of the industrial products company’s stock worth $1,654,000 after purchasing an additional 123 shares during the period. Alliancebernstein L.P. grew its holdings in Hubbell by 15.1% in the fourth quarter. Alliancebernstein L.P. now owns 75,182 shares of the industrial products company’s stock worth $31,493,000 after purchasing an additional 9,872 shares during the period. Franklin Resources Inc. grew its holdings in Hubbell by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 109,760 shares of the industrial products company’s stock worth $45,977,000 after purchasing an additional 10,355 shares during the period. Finally, National Bank of Canada FI grew its holdings in Hubbell by 15.2% in the fourth quarter. National Bank of Canada FI now owns 25,133 shares of the industrial products company’s stock worth $10,528,000 after purchasing an additional 3,325 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 2.6%

Hubbell stock opened at $426.27 on Friday. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The stock has a market cap of $22.75 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.99. The firm’s 50-day simple moving average is $408.97 and its 200 day simple moving average is $383.51. 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 (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Research analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HUBB shares. Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company lifted their price objective on shares of Hubbell from $420.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays lifted their price objective on shares of Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $460.75.

Insider Transactions at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the business’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 transaction, the director directly owned 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the business’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 transaction, the chief executive officer owned 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. 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.