Golden State Wealth Management LLC Purchases 644 Shares of Hubbell Inc (NYSE:HUBB)

Golden State Wealth Management LLC lifted its position in Hubbell Inc (NYSE:HUBB) by 390.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 809 shares of the industrial products company’s stock after buying an additional 644 shares during the period. Golden State Wealth Management LLC’s holdings in Hubbell were worth $268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Hubbell by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock valued at $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Hubbell by 6.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after purchasing an additional 92,954 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Hubbell by 1.9% during the fourth quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company’s stock valued at $624,347,000 after purchasing an additional 27,914 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Hubbell by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock valued at $536,641,000 after purchasing an additional 29,601 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Hubbell by 16.4% during the fourth quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company’s stock valued at $217,032,000 after purchasing an additional 72,913 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the sale, the director now directly owns 1,727 shares in the company, valued at approximately $667,122.83. The trade was a 18.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction on 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 sale, the chief executive officer now owns 82,101 shares in the company, valued at approximately $31,578,507.63. This represents 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 currently owned by insiders.

Hubbell Stock Up 0.3%

HUBB opened at $406.58 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. Hubbell Inc has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm’s fifty day moving average is $378.73 and its 200 day moving average is $385.18. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99.

Hubbell (NYSE:HUBB) last released its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the firm posted $3.60 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $1.32 dividend. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.30%. Hubbell’s dividend payout ratio is currently 35.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HUBB shares. Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Barclays lifted their price target on shares of Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a research note on Monday, June 9th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $459.25.

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.