Monument Capital Management Has $3.53 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Monument Capital Management trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,507 shares of the industrial products company’s stock after selling 485 shares during the period. Hubbell comprises 1.0% of Monument Capital Management’s holdings, making the stock its 28th largest position. Monument Capital Management’s holdings in Hubbell were worth $3,531,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Van Leeuwen & Company LLC boosted its stake in shares of Hubbell by 59.8% during the 4th quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company’s stock worth $2,719,000 after buying an additional 3,092 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its holdings in shares of Hubbell by 265.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock valued at $13,563,000 after purchasing an additional 29,959 shares during the period. Nordea Investment Management AB raised its holdings in shares of Hubbell by 119.0% in the 4th quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock valued at $50,388,000 after purchasing an additional 83,581 shares during the period. PFG Advisors bought a new stake in shares of Hubbell in the 4th quarter valued at about $1,108,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Hubbell in the 4th quarter valued at about $1,258,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Neal J. Keating purchased 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the acquisition, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the transaction, the insider now owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Neal J. Keating bought 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $378.77 per share, with a total value of $189,385.00. Following the purchase, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The disclosure for this purchase can be found here. Insiders have sold 3,055 shares of company stock worth $1,232,139 over the last quarter. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. Finally, Mizuho increased their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $386.57.

Hubbell Stock Performance

Shares of HUBB traded up $2.07 during mid-day trading on Wednesday, hitting $367.88. 121,140 shares of the company’s stock were exchanged, compared to its average volume of 452,611. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61. The stock’s 50-day simple moving average is $387.00 and its 200-day simple moving average is $373.28. The firm has a market cap of $19.75 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. 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 (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.06. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $3.61 EPS. On average, equities research analysts expect that Hubbell Incorporated will post 16.33 EPS for the current year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a $1.22 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a yield of 1.33%. Hubbell’s dividend payout ratio is currently 36.39%.

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.