Hubbell Inc (NYSE:HUBB) Shares Bought by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC significantly increased its stake in Hubbell Inc by 1,124.7% in Q1, acquiring a total of 3,674 shares valued at $1.216 million.
• Hubbell's recent earnings report showed an EPS of $4.93, surpassing estimates, while the company also announced a quarterly dividend of $1.32 per share.
• Institutional investors hold 88.16% of Hubbell's stock, with several firms, including Deutsche Bank and Bank of New York Mellon, also increasing their positions during the quarter.

Headlands Technologies LLC grew its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 1,124.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,674 shares of the industrial products company's stock after acquiring an additional 3,374 shares during the quarter. Headlands Technologies LLC's holdings in Hubbell were worth $1,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HUBB. Deutsche Bank AG grew its stake in shares of Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after buying an additional 287,047 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Hubbell by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 319,990 shares of the industrial products company's stock valued at $105,888,000 after buying an additional 8,342 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in Hubbell in the first quarter valued at approximately $959,000. Citizens Financial Group Inc. RI grew its position in Hubbell by 1.0% in the first quarter. Citizens Financial Group Inc. RI now owns 8,487 shares of the industrial products company's stock valued at $2,808,000 after acquiring an additional 86 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its position in Hubbell by 13.4% in the first quarter. Westwood Holdings Group Inc. now owns 297,598 shares of the industrial products company's stock valued at $98,478,000 after acquiring an additional 35,127 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company increased 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. Finally, Barclays increased their price objective on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Hubbell currently has an average rating of "Hold" and a consensus price target of $462.29.

Hubbell Stock Performance

HUBB traded up $10.62 during trading hours on Tuesday, hitting $428.16. 227,982 shares of the stock were exchanged, compared to its average volume of 636,742. The stock has a 50-day simple moving average of $412.60 and a 200-day simple moving average of $381.76. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The stock has a market cap of $22.75 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.34 and a beta of 0.99. 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 announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. Analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently declared 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 of this dividend is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell's dividend payout ratio (DPR) is 34.29%.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction 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 sale, the chief executive officer owned 82,101 shares of the company's stock, valued at $31,578,507.63. The trade was a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction 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 sale, the director directly owned 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.76% of the company's stock.

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.