MBB Public Markets I LLC Takes $1.43 Million Position in Hubbell Incorporated (NYSE:HUBB)

MBB Public Markets I LLC acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,900 shares of the industrial products company’s stock, valued at approximately $1,425,000.

A number of other institutional investors have also recently made changes to their positions in HUBB. Daymark Wealth Partners LLC grew its position in Hubbell by 276.7% in the second quarter. Daymark Wealth Partners LLC now owns 2,260 shares of the industrial products company’s stock worth $826,000 after acquiring an additional 1,660 shares in the last quarter. APG Asset Management N.V. grew its position in Hubbell by 260.0% in the second quarter. APG Asset Management N.V. now owns 5,400 shares of the industrial products company’s stock worth $1,841,000 after acquiring an additional 3,900 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Hubbell in the second quarter worth about $294,000. Squarepoint Ops LLC grew its position in Hubbell by 1,054.3% in the second quarter. Squarepoint Ops LLC now owns 16,784 shares of the industrial products company’s stock worth $6,134,000 after acquiring an additional 15,330 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Hubbell by 60.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,271 shares of the industrial products company’s stock valued at $3,754,000 after buying an additional 3,869 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HUBB. Barclays dropped their target price on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley began coverage on Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price for the company. Stephens restated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $404.88.

Hubbell Stock Performance

Shares of HUBB opened at $428.48 on Monday. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $433.03. The stock has a fifty day moving average price of $387.00 and a 200-day moving average price of $389.92. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $23.00 billion, a PE ratio of 31.95, a P/E/G ratio of 1.56 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $4.07 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts predict that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, August 30th. Hubbell’s payout ratio is 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 stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

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.