Aigen Investment Management LP Has $1.49 Million Stock Position in Hubbell Inc (NYSE:HUBB)

Key Points

• Aigen Investment Management LP significantly increased its holdings in Hubbell Inc by 330.9% during the first quarter, acquiring a total of 4,511 shares valued at approximately $1.49 million.
• The company reported an EPS of $4.93 for its last quarterly earnings, exceeding analysts' expectations of $4.36, while revenues were slightly below forecasts at $1.48 billion.
• Hubbell announced a quarterly dividend of $1.32 per share, reflecting an annualized dividend yield of 1.3% and a payout ratio of 34.29%.

Aigen Investment Management LP increased its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 330.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,511 shares of the industrial products company's stock after buying an additional 3,464 shares during the quarter. Aigen Investment Management LP's holdings in Hubbell were worth $1,493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tsfg LLC bought a new position in shares of Hubbell during the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. grew its position in Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. CX Institutional acquired a new stake in Hubbell in the 1st quarter valued at $49,000. NBC Securities Inc. bought a new stake in Hubbell during the 1st quarter worth about $49,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Hubbell during the 1st quarter worth about $66,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Buying and Selling

In other news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the sale, the director owned 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Barclays upped their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $462.29.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $5.83 on Thursday, hitting $438.12. The company had a trading volume of 473,365 shares, compared to its average volume of 637,833. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.42 and a beta of 0.99. The stock has a 50 day moving average price of $414.49 and a 200 day moving average price of $382.53. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.

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

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell's dividend payout ratio is currently 34.29%.

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.