Edgestream Partners L.P. Takes Position in Hubbell Inc (NYSE:HUBB)

Edgestream Partners L.P. purchased a new stake in Hubbell Inc (NYSE:HUBB - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,044 shares of the industrial products company's stock, valued at approximately $9,942,000. Edgestream Partners L.P. owned about 0.06% of Hubbell as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares in the last quarter. Tsfg LLC acquired a new position in shares of Hubbell during the 1st quarter valued at $30,000. Johnson Financial Group Inc. lifted its holdings in shares of Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Hubbell during the 1st quarter valued at $49,000. Finally, CX Institutional acquired a new position in shares of Hubbell during the 1st quarter valued at $49,000. 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 the company'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 sale, the director directly owned 1,727 shares of the company's stock, valued at approximately $667,122.83. This represents a 18.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the company'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 transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer directly owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

Analyst Ratings Changes

HUBB has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Barclays boosted their price objective on shares of Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Wells Fargo & Company set a $420.00 price objective on shares of Hubbell and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Six 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.com, Hubbell has an average rating of "Hold" and a consensus price target of $456.25.

Hubbell Stock Performance

Shares of NYSE:HUBB traded up $3.59 during trading on Wednesday, reaching $418.45. 434,514 shares of the company's stock traded hands, compared to its average volume of 534,871. 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 12 month low of $299.43 and a 12 month high of $481.35. The company has a 50 day moving average of $395.33 and a 200-day moving average of $382.70. The stock has a market capitalization of $22.33 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99.

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

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Friday, May 30th. Hubbell's dividend payout ratio is currently 35.72%.

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.