Nuveen LLC Makes New Investment in Hubbell Inc (NYSE:HUBB)

Key Points

• Nuveen LLC has acquired 644,534 shares of Hubbell Inc, a new position valued at approximately $213.3 million, representing about 1.20% of the company's stock.
• JPMorgan Chase & Co. and Barclays have recently increased their price targets for Hubbell, with JPMorgan raising it from $352 to $417 and Barclays from $420 to $431.
• Hubbell will pay a quarterly dividend of $1.32 per share on September 15th, with a current annualized dividend yield of 1.3% and a payout ratio of 34.29%.

Nuveen LLC bought a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 644,534 shares of the industrial products company's stock, valued at approximately $213,283,000. Nuveen LLC owned about 1.20% of Hubbell at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its holdings in Hubbell by 1,462.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock valued at $2,596,000 after acquiring an additional 7,344 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Hubbell by 60.4% in the 1st quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock valued at $97,000 after acquiring an additional 110 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Hubbell by 29.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company's stock valued at $522,000 after purchasing an additional 360 shares during the period. CX Institutional purchased a new position in Hubbell during the first quarter valued at approximately $49,000. Finally, GAMMA Investing LLC increased its stake in Hubbell by 58.7% in the 1st quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock valued at $192,000 after buying an additional 215 shares during the period. Institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

Shares of HUBB stock traded down $5.83 during trading hours on Thursday, hitting $438.12. 473,414 shares of the company's stock were exchanged, compared to its average volume of 637,834. The stock's 50-day moving average is $414.49 and its 200-day moving average is $382.53. 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 stock has a market cap of $23.28 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $481.35.

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

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.32 dividend. The ex-dividend date is Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio (DPR) is currently 34.29%.

Insider Transactions at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of Hubbell 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 sale, the director owned 1,727 shares of the company's stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.