MQS Management LLC Takes $487,000 Position in Hubbell Inc (NYSE:HUBB)

MQS Management LLC acquired a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,471 shares of the industrial products company's stock, valued at approximately $487,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Hubbell by 17.7% during the 1st quarter. CWM LLC now owns 1,563 shares of the industrial products company's stock worth $517,000 after purchasing an additional 235 shares during the period. Stephens Investment Management Group LLC grew its position in Hubbell by 2.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 128,163 shares of the industrial products company's stock valued at $42,410,000 after acquiring an additional 2,737 shares during the last quarter. Xponance Inc. boosted its stake in shares of Hubbell by 1.2% during the first quarter. Xponance Inc. now owns 8,046 shares of the industrial products company's stock valued at $2,663,000 after purchasing an additional 97 shares during the period. Parr Mcknight Wealth Management Group LLC increased its stake in Hubbell by 44.3% in the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 3,769 shares of the industrial products company's stock worth $1,247,000 after buying an additional 1,157 shares during the period. Finally, Regents Gate Capital LLP purchased a new stake in Hubbell in the 1st quarter valued at about $1,616,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction dated 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 approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction dated 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 of the company's stock, valued at $31,578,507.63. This trade represents a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.76% of the company's stock.

Hubbell Trading Down 0.7%

Hubbell stock opened at $419.18 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. The stock has a market cap of $22.37 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The stock has a 50-day moving average of $392.77 and a two-hundred day moving average of $382.53. 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 released its earnings results 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). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business earned $3.60 earnings per share. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal 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 paid a $1.32 dividend. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.26%. Hubbell's dividend payout ratio (DPR) is 35.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HUBB shares. Wells Fargo & Company set a $420.00 target price on Hubbell and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Barclays raised their target price on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price objective 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, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $456.25.

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.

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