Zurcher Kantonalbank Zurich Cantonalbank Buys 770 Shares of Hubbell Incorporated (NYSE:HUBB)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,419 shares of the industrial products company’s stock after acquiring an additional 770 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hubbell were worth $17,571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hamilton Point Investment Advisors LLC boosted its stake in Hubbell by 1.6% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 20,267 shares of the industrial products company’s stock valued at $6,667,000 after acquiring an additional 327 shares during the last quarter. Flputnam Investment Management Co. bought a new position in Hubbell in the fourth quarter valued at approximately $219,000. Bourgeon Capital Management LLC bought a new position in Hubbell in the fourth quarter valued at approximately $7,217,000. Sentry Investment Management LLC bought a new position in Hubbell in the fourth quarter valued at approximately $91,000. Finally, Mackenzie Financial Corp boosted its stake in Hubbell by 62.5% in the fourth quarter. Mackenzie Financial Corp now owns 4,210 shares of the industrial products company’s stock valued at $1,385,000 after acquiring an additional 1,619 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Up 0.4 %

HUBB opened at $392.45 on Friday. The stock has a market capitalization of $21.05 billion, a P/E ratio of 27.93, a P/E/G ratio of 2.38 and a beta of 0.94. Hubbell Incorporated has a 12 month low of $229.09 and a 12 month high of $429.61. The firm’s fifty day simple moving average is $390.63 and its 200 day simple moving average is $338.46. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.58 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 EPS. As a group, research analysts anticipate that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $1.22 per share. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 annualized dividend and a yield of 1.24%. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HUBB. Barclays raised their price objective on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company lifted their price target on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Mizuho boosted 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $383.57.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of the business’s 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 sale, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerben Bakker sold 13,355 shares of the company’s 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 completion of the sale, the chief executive officer now directly 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 34,125 shares of company stock valued at $12,065,100 in the last three months. 0.66% of the stock is currently owned by corporate insiders.

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.