Banque Cantonale Vaudoise Raises Stock Position in Hubbell Incorporated (NYSE:HUBB)

Banque Cantonale Vaudoise boosted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,714 shares of the industrial products company’s stock after acquiring an additional 162 shares during the period. Banque Cantonale Vaudoise’s holdings in Hubbell were worth $626,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Nvwm LLC purchased a new position in Hubbell in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its stake in Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after buying an additional 74 shares in the last quarter. Principal Securities Inc. purchased a new position in Hubbell in the 4th quarter worth approximately $40,000. Riverview Trust Co purchased a new position in Hubbell in the 1st quarter worth approximately $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in Hubbell in the 1st quarter worth approximately $56,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 1.1 %

Shares of HUBB opened at $399.92 on Monday. The firm has a 50 day moving average price of $374.97 and a 200-day moving average price of $386.03. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 1.51 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business posted $4.07 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.39 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $1.22 per share. The ex-dividend date is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.22%. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price target on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Barclays lowered their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $402.57.

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.