Connor Clark & Lunn Investment Management Ltd. Buys Shares of 20,937 Hubbell Inc (NYSE:HUBB)

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 20,937 shares of Hubbell Inc (NYSE:HUBB) valued at approximately $6.93 million during the first quarter.
• Recent insider trading includes Director Carlos M. Cardoso selling 400 shares and CEO Gerben Bakker selling 7,723 shares of Hubbell, representing a decrease in their ownership.
• The company reported quarterly earnings of $4.93 per share, exceeding the consensus estimate, and announced a quarterly dividend of $1.32 per share, payable on September 15th.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Hubbell Inc (NYSE:HUBB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,937 shares of the industrial products company's stock, valued at approximately $6,928,000.

A number of other large investors also recently bought and sold shares of the stock. Townsquare Capital LLC lifted its position in shares of Hubbell by 12.6% during the first quarter. Townsquare Capital LLC now owns 3,034 shares of the industrial products company's stock worth $1,004,000 after purchasing an additional 340 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Hubbell during the first quarter worth about $315,000. Forsta AP Fonden lifted its position in shares of Hubbell by 37.9% during the first quarter. Forsta AP Fonden now owns 36,400 shares of the industrial products company's stock worth $12,045,000 after purchasing an additional 10,000 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Hubbell by 61.1% during the first quarter. National Bank of Canada FI now owns 40,494 shares of the industrial products company's stock worth $13,400,000 after purchasing an additional 15,361 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Hubbell by 40.9% during the first quarter. Citigroup Inc. now owns 70,157 shares of the industrial products company's stock worth $23,216,000 after purchasing an additional 20,369 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Price Performance

Shares of NYSE HUBB traded down $5.83 during trading on Thursday, hitting $438.12. 473,414 shares of the company were exchanged, compared to its average volume of 637,834. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 2.42 and a beta of 0.99. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The firm's fifty day moving average price is $414.49 and its 200 day moving average price is $382.53. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating analysts' consensus estimates 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. On average, sell-side analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Insiders Place Their Bets

In other news, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director owned 1,727 shares of the company's stock, valued at $667,122.83. This represents a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays raised their target price on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Wells Fargo & Company raised their target price on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $462.29.

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.