Squarepoint Ops LLC Buys 9,580 Shares of Hubbell Incorporated (NYSE:HUBB)

Squarepoint Ops LLC boosted its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,383 shares of the industrial products company's stock after acquiring an additional 9,580 shares during the period. Squarepoint Ops LLC owned 0.08% of Hubbell worth $16,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Temasek Holdings Private Ltd lifted its position in Hubbell by 221.1% during the 4th quarter. Temasek Holdings Private Ltd now owns 24,596 shares of the industrial products company's stock worth $10,303,000 after acquiring an additional 16,935 shares during the last quarter. Tidal Investments LLC lifted its position in Hubbell by 16.6% during the 4th quarter. Tidal Investments LLC now owns 2,750 shares of the industrial products company's stock worth $1,152,000 after acquiring an additional 392 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of Hubbell during the fourth quarter valued at about $365,000. Tema Etfs LLC acquired a new position in shares of Hubbell during the fourth quarter valued at about $633,000. Finally, Toronto Dominion Bank raised its position in shares of Hubbell by 59.1% during the fourth quarter. Toronto Dominion Bank now owns 28,719 shares of the industrial products company's stock valued at $12,030,000 after buying an additional 10,667 shares during the last quarter. 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 firm'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 completion of the sale, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the firm'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 sale, the chief executive officer now directly owns 82,101 shares of the company's stock, 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. Company insiders own 0.66% of the company's stock.

Hubbell Price Performance

NYSE:HUBB traded up $9.85 during mid-day trading on Tuesday, hitting $400.44. The company's stock had a trading volume of 255,099 shares, compared to its average volume of 678,928. Hubbell Incorporated has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $21.37 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 1.34 and a beta of 0.97. The stock has a fifty day moving average of $353.12 and a 200-day moving average of $394.26.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results 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 28.62% and a net margin of 13.82%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $3.60 EPS. The business's revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Hubbell Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HUBB. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays cut their price objective on shares of 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, JPMorgan Chase & Co. upped 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Hubbell currently has an average rating of "Hold" and an average price target of $457.50.

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.