InterOcean Capital Group LLC Purchases New Holdings in Hubbell Incorporated (NYSE:HUBB)

InterOcean Capital Group LLC purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,278 shares of the industrial products company’s stock, valued at approximately $531,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after acquiring an additional 918,808 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Hubbell by 14.2% during the first quarter. Bank of New York Mellon Corp now owns 1,743,746 shares of the industrial products company’s stock valued at $723,741,000 after purchasing an additional 216,600 shares during the period. International Assets Investment Management LLC grew its holdings in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after purchasing an additional 1,468,463 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Hubbell by 24.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after purchasing an additional 248,493 shares during the period. Finally, FIL Ltd grew its holdings in Hubbell by 0.6% during the fourth quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock valued at $366,925,000 after purchasing an additional 6,526 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In related news, 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 completion of the sale, the insider now owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Neal J. Keating purchased 500 shares of the stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,055 shares of company stock valued at $1,232,139. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of Hubbell stock traded down $1.15 during trading hours on Thursday, reaching $355.83. The company had a trading volume of 737,016 shares, compared to its average volume of 462,043. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The business has a fifty day simple moving average of $380.43 and a 200 day simple moving average of $378.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The firm has a market cap of $19.10 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $3.61 earnings per share. On average, analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, May 31st. Hubbell’s dividend payout ratio is 36.39%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Barclays reduced their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Five equities 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 has an average rating of “Moderate Buy” and a consensus price target of $386.57.

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.