GAMMA Investing LLC Buys 191,893 Shares of Hubbell Incorporated (NYSE:HUBB)

GAMMA Investing LLC grew its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 52,429.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 192,259 shares of the industrial products company's stock after purchasing an additional 191,893 shares during the period. GAMMA Investing LLC owned approximately 0.36% of Hubbell worth $636,200,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HUBB. Huntington National Bank lifted its position in shares of Hubbell by 3.0% during the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after buying an additional 26 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Hubbell by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after purchasing an additional 26 shares during the last quarter. Sanctuary Advisors LLC raised its position in Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock valued at $2,313,000 after purchasing an additional 27 shares during the last quarter. Mindset Wealth Management LLC raised its position in Hubbell by 1.7% in the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock valued at $693,000 after purchasing an additional 27 shares during the last quarter. Finally, BHK Investment Advisors LLC raised its position in Hubbell by 2.3% in the fourth quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company's stock valued at $566,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Trading Up 0.5%

HUBB traded up $2.03 during trading on Wednesday, hitting $392.10. The company's stock had a trading volume of 133,365 shares, compared to its average volume of 540,695. The firm has a market capitalization of $20.93 billion, a P/E ratio of 27.31, a PEG ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The stock's fifty day moving average price is $358.78 and its 200-day moving average price is $392.24. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.60 EPS. Analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its board has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the transaction, the chief executive officer now owns 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

HUBB has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six 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, the company currently has an average rating of "Hold" and an average target price of $457.50.

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.