AQR Capital Management LLC Sells 15,419 Shares of Hubbell Incorporated (NYSE:HUBB)

AQR Capital Management LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 23.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,235 shares of the industrial products company’s stock after selling 15,419 shares during the period. AQR Capital Management LLC owned approximately 0.10% of Hubbell worth $18,725,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of Hubbell by 4.1% during the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after purchasing an additional 6,275 shares in the last quarter. TD Asset Management Inc boosted its stake in Hubbell by 343.8% during the fourth quarter. TD Asset Management Inc now owns 43,785 shares of the industrial products company’s stock worth $14,402,000 after buying an additional 33,920 shares in the last quarter. IFG Advisory LLC acquired a new stake in Hubbell during the second quarter worth $475,000. Point72 Asset Management L.P. increased its holdings in Hubbell by 4,414.0% in the 4th quarter. Point72 Asset Management L.P. now owns 242,855 shares of the industrial products company’s stock valued at $79,882,000 after buying an additional 237,475 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Hubbell by 81.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock valued at $22,565,000 after buying an additional 24,321 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

Hubbell stock opened at $428.35 on Tuesday. The business’s fifty day moving average is $387.00 and its two-hundred day moving average is $389.86. 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 $23.00 billion, a P/E ratio of 31.93, a P/E/G ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $433.03.

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

Hubbell Dividend Announcement

The business also recently disclosed 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 yield of 1.14%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insiders Place Their Bets

In other news, Director Carlos M. Cardoso sold 450 shares of the business’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 sale, the director now owns 1,670 shares in the company, valued at $608,781.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now 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 can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company upped their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Morgan Stanley started coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, Barclays dropped their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $404.88.

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.