Westwood Holdings Group Inc. Buys 24,157 Shares of Hubbell Incorporated (NYSE:HUBB)

Westwood Holdings Group Inc. boosted its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,889 shares of the industrial products company's stock after acquiring an additional 24,157 shares during the quarter. Westwood Holdings Group Inc. owned 0.50% of Hubbell worth $98,639,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Nvwm LLC purchased a new position in shares of Hubbell during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 74 shares during the period. Principal Securities Inc. purchased a new position in Hubbell in the fourth quarter worth about $40,000. Riverview Trust Co bought a new stake in shares of Hubbell during the 1st quarter valued at about $52,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Hubbell in the 1st quarter worth approximately $56,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUBB has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Stephens restated an "overweight" rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Morgan Stanley assumed coverage on Hubbell in a research note on Friday, September 6th. They set an "equal weight" rating and a $407.00 price objective for the company. Barclays decreased their target price on shares of Hubbell from $384.00 to $368.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a "hold" rating to a "buy" rating and increased their price objective for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $404.88.

Hubbell Price Performance

NYSE HUBB traded up $3.47 on Friday, reaching $426.01. The company had a trading volume of 690,423 shares, compared to its average volume of 455,555. The firm's 50 day moving average price is $381.79 and its 200 day moving average price is $388.65. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a market capitalization of $22.87 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.07 earnings per share. As a group, equities analysts predict that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.15%. Hubbell's dividend payout ratio (DPR) is presently 36.39%.

Insider Activity

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the firm's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

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.