Banque Cantonale Vaudoise Invests $1.33 Million in Hubbell Inc (NYSE:HUBB)

Key Points

• Banque Cantonale Vaudoise acquired 4,005 shares of Hubbell Inc, worth approximately $1,325,000, during the first quarter.
• Hubbell reported $4.93 EPS for the last quarter, surpassing analysts' expectations of $4.36, despite slightly missing revenue estimates at $1.48 billion.
• The company announced a quarterly dividend of $1.32 per share, with a yield of 1.21%, to be paid on September 15th.

Banque Cantonale Vaudoise bought a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,005 shares of the industrial products company's stock, valued at approximately $1,325,000.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Hubbell by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock valued at $937,623,000 after purchasing an additional 7,142 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Hubbell by 6.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock worth $632,704,000 after acquiring an additional 92,954 shares during the period. Invesco Ltd. increased its position in Hubbell by 1.9% during the fourth quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock worth $624,347,000 after acquiring an additional 27,914 shares during the period. Geode Capital Management LLC increased its holdings in Hubbell by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock valued at $536,641,000 after buying an additional 29,601 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Hubbell by 16.4% in the 4th quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company's stock worth $217,032,000 after purchasing an additional 72,913 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Price Performance

HUBB stock traded down $11.21 during midday trading on Friday, reaching $426.27. The company had a trading volume of 737,548 shares, compared to its average volume of 596,665. The company has a market capitalization of $22.75 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.99. The stock has a 50 day moving average price of $408.97 and a 200-day moving average price of $383.51. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.73.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Equities research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.32 dividend. The ex-dividend date is Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio is presently 34.29%.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the transaction, the chief executive officer directly owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the transaction, the director directly owned 1,727 shares in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HUBB. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Barclays increased their target price on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and an average price target of $460.75.

Hubbell 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.