Entropy Technologies LP Purchases 1,883 Shares of Hubbell Inc (NYSE:HUBB)

Key Points

• Entropy Technologies LP has increased its stake in **Hubbell Inc** by **37%**, acquiring a total of **6,973 shares** valued at approximately **$2.3 million**.
• Major hedge funds have recently adjusted their positions in **Hubbell**, with institutional investors currently owning **88.16%** of the stock, indicating strong institutional interest.
• Hubbell's latest earnings report shows **EPS of $4.93**, exceeding analysts' expectations, and the company recently announced a quarterly dividend of **$1.32 per share** with a yield of **1.3%**.

Entropy Technologies LP grew its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 37.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 6,973 shares of the industrial products company's stock after acquiring an additional 1,883 shares during the quarter. Entropy Technologies LP's holdings in Hubbell were worth $2,307,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Deutsche Bank AG boosted its position in 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. Marshall Wace LLP grew its holdings in Hubbell by 418.1% during 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 acquired a new position in Hubbell in the 4th quarter valued at approximately $95,868,000. GAMMA Investing LLC raised its stake in shares of Hubbell by 52,429.8% during the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after acquiring an additional 191,893 shares during the last quarter. Finally, PointState Capital LP bought a new position in shares of Hubbell during the fourth quarter valued at $78,443,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent research reports. JPMorgan Chase & Co. lifted 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 upgraded Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company upped their price objective on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Barclays boosted 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. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and an average price target of $462.29.

Insider Activity

In related 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 transaction of $154,516.00. Following the sale, the director 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company's stock.

Hubbell Stock Performance

Shares of Hubbell stock traded down $5.83 during mid-day trading on Thursday, hitting $438.12. 473,365 shares of the stock were exchanged, compared to its average volume of 637,833. The company has a market capitalization of $23.28 billion, a P/E ratio of 28.45, a P/E/G ratio of 2.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The company has a 50-day simple moving average of $414.49 and a 200 day simple moving average of $382.53. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35.

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 for the quarter, beating the consensus estimate of $4.36 by $0.57. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

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.