Louisiana State Employees Retirement System Acquires Shares of 3,200 Hubbell Incorporated (NYSE:HUBB)

Louisiana State Employees Retirement System acquired a new stake in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,200 shares of the industrial products company’s stock, valued at approximately $1,053,000.

Several other institutional investors also recently bought and sold shares of the company. North Star Asset Management Inc. increased its stake in Hubbell by 1.5% in the 3rd quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after buying an additional 36 shares during the period. Lindenwold Advisors INC increased its stake in Hubbell by 1.6% in the 3rd quarter. Lindenwold Advisors INC now owns 2,584 shares of the industrial products company’s stock valued at $810,000 after buying an additional 41 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of Hubbell by 2.4% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 45 shares during the period. Grove Bank & Trust grew its stake in shares of Hubbell by 14.3% during the 3rd quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 50 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Hubbell by 6.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 881 shares of the industrial products company’s stock worth $276,000 after purchasing an additional 50 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HUBB. Barclays upped their price target on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho upped their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Wells Fargo & Company upped their price target on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and an average price target of $383.57.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the transaction, the chief executive officer now directly owns 51,783 shares in the company, valued at approximately $18,286,130.79. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares in the company, valued at approximately $1,780,541.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the transaction, the chief executive officer now owns 51,783 shares in the company, valued at $18,286,130.79. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $12,065,100 in the last three months. Company insiders own 0.78% of the company’s stock.

Hubbell Price Performance

NYSE:HUBB opened at $397.89 on Wednesday. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average is $393.34 and its two-hundred day moving average is $341.12. Hubbell Incorporated has a 12-month low of $230.50 and a 12-month high of $429.61.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 EPS. Research analysts expect that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.23%. Hubbell’s payout ratio is currently 34.73%.

About Hubbell

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.