Diversified Trust Co Makes New $376,000 Investment in Hubbell Inc (NYSE:HUBB)

Diversified Trust Co acquired a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,136 shares of the industrial products company's stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in Hubbell in the 4th quarter worth $195,218,000. Marshall Wace LLP raised its stake in Hubbell by 418.1% in the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock worth $128,620,000 after acquiring an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in Hubbell in the 4th quarter worth $95,868,000. GAMMA Investing LLC raised its stake in Hubbell by 52,429.8% in the 1st quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock worth $636,200,000 after acquiring an additional 191,893 shares during the last quarter. Finally, PointState Capital LP purchased a new position in Hubbell in the 4th quarter worth $78,443,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Hubbell from $363.00 to $420.00 and gave the company an "equal weight" rating in a report on Tuesday. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Barclays raised their target price on Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Six 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, the stock currently has a consensus rating of "Hold" and an average price target of $455.50.

Hubbell Price Performance

HUBB stock traded up $4.72 during trading on Wednesday, hitting $415.23. The stock had a trading volume of 381,523 shares, compared to its average volume of 532,841. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73. Hubbell Inc has a twelve month low of $299.43 and a twelve month high of $481.35. The stock has a market capitalization of $22.16 billion, a P/E ratio of 28.09, a PEG ratio of 1.44 and a beta of 0.99. The company's 50-day moving average price is $384.47 and its two-hundred day moving average price is $383.99.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm posted $3.60 earnings per share. The company's quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's payout ratio is presently 35.72%.

Insider Activity at Hubbell

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

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.