Vanguard Group Inc. Acquires 96,435 Shares of Hubbell Incorporated (NYSE:HUBB)

Vanguard Group Inc. grew its holdings in Hubbell Incorporated (NYSE:HUBBFree Report) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,777,774 shares of the industrial products company’s stock after purchasing an additional 96,435 shares during the period. Vanguard Group Inc. owned about 10.78% of Hubbell worth $1,810,812,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Hubbell by 95.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 18,084 shares of the industrial products company’s stock worth $5,667,000 after buying an additional 8,839 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Hubbell by 16.3% in the 3rd quarter. Wellington Management Group LLP now owns 358,432 shares of the industrial products company’s stock worth $112,336,000 after buying an additional 50,279 shares during the last quarter. Modera Wealth Management LLC boosted its stake in shares of Hubbell by 6.5% in the 3rd quarter. Modera Wealth Management LLC now owns 28,162 shares of the industrial products company’s stock worth $8,826,000 after buying an additional 1,721 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Hubbell by 78.3% in the 3rd quarter. Deutsche Bank AG now owns 98,879 shares of the industrial products company’s stock worth $30,990,000 after buying an additional 43,409 shares during the last quarter. Finally, Graham Capital Management L.P. boosted its stake in shares of Hubbell by 950.5% in the 3rd quarter. Graham Capital Management L.P. now owns 18,909 shares of the industrial products company’s stock worth $5,926,000 after buying an additional 17,109 shares during the last quarter. Institutional investors own 85.97% of the company’s stock.

Hubbell Price Performance

Shares of Hubbell stock opened at $395.15 on Monday. The stock’s 50-day simple moving average is $355.84 and its 200-day simple moving average is $323.68. Hubbell Incorporated has a 52 week low of $219.77 and a 52 week high of $404.15. The company has a market capitalization of $21.19 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.43 and a beta of 0.93. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

Hubbell (NYSE:HUBBGet Free Report) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts expect that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $1.22 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.23%. Hubbell’s dividend payout ratio (DPR) is 34.73%.

Insider Transactions at Hubbell

In other news, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the sale, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hubbell news, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the sale, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following 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. Over the last three months, insiders have sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of research reports. TD Cowen initiated coverage on Hubbell in a research note on Friday, December 8th. They issued an “outperform” rating and a $338.00 price target on the stock. Barclays lifted their target price on Hubbell from $330.00 to $340.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and an average price target of $363.57.

Check Out Our Latest Analysis on HUBB

About Hubbell

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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