Lecap Asset Management Ltd. Acquires Shares of 10,311 Hubbell Inc (NYSE:HUBB)

Lecap Asset Management Ltd. acquired a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,311 shares of the industrial products company's stock, valued at approximately $3,412,000. Hubbell comprises about 0.8% of Lecap Asset Management Ltd.'s portfolio, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its stake in Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after buying an additional 30 shares in the last quarter. Johnson Financial Group Inc. lifted its stake in Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after buying an additional 65 shares in the last quarter. NBC Securities Inc. bought a new position in Hubbell in the first quarter valued at approximately $49,000. CX Institutional bought a new position in Hubbell in the first quarter valued at approximately $49,000. Finally, Venturi Wealth Management LLC lifted its stake in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after buying an additional 53 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 7,723 shares of the business'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 directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the company'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 owns 1,727 shares in the company, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Barclays lifted their price target on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $459.25.

Hubbell Stock Up 0.3%

Shares of HUBB stock traded up $1.32 during trading on Friday, reaching $406.58. The company's stock had a trading volume of 562,257 shares, compared to its average volume of 539,421. The business has a fifty day moving average price of $378.73 and a 200-day moving average price of $385.18. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The company has a market cap of $21.70 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Hubbell Inc has a one year low of $299.43 and a one year high of $481.35.

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

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.30%. Hubbell's payout ratio is 35.72%.

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.