Hubbell Inc (NYSE:HUBB) Shares Bought by LGT Capital Partners LTD.

Key Points

• LGT Capital Partners LTD. increased its stake in Hubbell Inc by 7.9% in Q1, now holding approximately $33.39 million worth of stock, which represents 1.5% of its total holdings.
• Insider sales were reported with CEO Gerben Bakker selling 7,723 shares, resulting in an 8.60% reduction in his position, while Director Carlos M. Cardoso sold 400 shares, decreasing his holdings by 18.81%.
• Hubbell recently announced a quarterly dividend of $1.32 per share, with a dividend yield of 1.2%, and has a current market capitalization of $22.75 billion.

LGT Capital Partners LTD. grew its position in Hubbell Inc (NYSE:HUBB - Free Report) by 7.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,900 shares of the industrial products company's stock after acquiring an additional 7,430 shares during the period. Hubbell comprises approximately 1.5% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 27th biggest position. LGT Capital Partners LTD. owned approximately 0.19% of Hubbell worth $33,389,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of HUBB. Marshall Wace LLP grew its holdings in shares of Hubbell by 418.1% during the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock worth $128,620,000 after buying an additional 247,786 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in Hubbell during the 4th quarter valued at about $95,868,000. GAMMA Investing LLC raised its holdings in Hubbell by 52,429.8% in the 1st 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. PointState Capital LP purchased a new position in Hubbell in the 4th quarter worth approximately $78,443,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Hubbell by 80.1% during the 4th quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company's stock worth $140,876,000 after purchasing an additional 149,622 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 1.0%

Shares of NYSE:HUBB traded down $4.33 during mid-day trading on Thursday, reaching $419.24. 85,120 shares of the company were exchanged, compared to its average volume of 641,911. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The firm's 50-day simple moving average is $410.89 and its 200 day simple moving average is $383.39. The firm has a market cap of $22.38 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 2.39 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Equities research analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell's dividend payout ratio is presently 34.29%.

Analyst Ratings Changes

A number of research firms have weighed in on HUBB. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Barclays raised their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company raised their price target on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Hubbell has an average rating of "Hold" and an average price target of $462.29.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the sale, the chief executive officer directly owned 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the transaction, the director directly owned 1,727 shares of the company's stock, valued at $667,122.83. The trade was 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.

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.