Hubbell Incorporated (NYSE:HUBB) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its position in Hubbell Incorporated (NYSE:HUBB) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 18,417 shares of the industrial products company’s stock after purchasing an additional 796 shares during the period. Advisors Asset Management Inc.’s holdings in Hubbell were worth $7,644,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HUBB. Nvwm LLC purchased a new stake in shares of Hubbell in the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC boosted its position in shares of 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 purchasing an additional 51 shares during the period. Baillie Gifford & Co. purchased a new position in shares of Hubbell during the 4th quarter worth approximately $33,000. Finally, Principal Securities Inc. purchased a new position in shares of Hubbell during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 3.2 %

HUBB stock traded up $11.54 during midday trading on Friday, hitting $367.09. The company’s stock had a trading volume of 333,062 shares, compared to its average volume of 461,246. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The firm has a market capitalization of $19.71 billion, a P/E ratio of 26.53, a PEG ratio of 1.32 and a beta of 0.90. The firm has a 50-day simple moving average of $379.72 and a 200-day simple moving average of $378.31.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on HUBB shares. Wells Fargo & Company lowered their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st. Barclays lowered their price objective on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $386.57.

Insider Activity

In other news, Director Neal J. Keating acquired 500 shares of Hubbell stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Neal J. Keating acquired 500 shares of Hubbell stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction 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 sale, the insider now owns 3,436 shares in the company, valued at $1,379,004.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,055 shares of company stock worth $1,232,139. 0.66% of the stock is currently owned by corporate insiders.

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.