First Pacific Financial Purchases 1,677 Shares of Hubbell Incorporated (NYSE:HUBB)

First Pacific Financial boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 11,180.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,692 shares of the industrial products company’s stock after buying an additional 1,677 shares during the period. First Pacific Financial’s holdings in Hubbell were worth $709,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell during the 3rd quarter valued at $33,000. Versant Capital Management Inc increased its stake in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the third quarter valued at about $41,000. Quarry LP bought a new stake in Hubbell during the second quarter worth about $49,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $58,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is currently owned by insiders.

Hubbell Price Performance

HUBB stock opened at $433.80 on Friday. The stock has a market capitalization of $23.28 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.45 and a beta of 0.93. The firm’s 50-day moving average price is $443.15 and its two-hundred day moving average price is $416.47. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 12-month low of $319.06 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $3.95 EPS. Hubbell’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.22%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HUBB. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho boosted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Company 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.