1,830 Shares in Hubbell Inc (NYSE:HUBB) Purchased by R Squared Ltd

Key Points

• R Squared Ltd made a new investment in Hubbell Inc, acquiring 1,830 shares valued at $606,000 during the first quarter.
• CEO Gerben Bakker sold 7,723 shares of Hubbell stock for nearly $2.97 million, resulting in an 8.60% decrease in his ownership stake.
• Hubbell's PE ratio stands at 27.68, with the company recently reporting an earnings per share (EPS) of $4.93 for the latest quarter.

R Squared Ltd purchased a new position in Hubbell Inc (NYSE:HUBB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,830 shares of the industrial products company's stock, valued at approximately $606,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Marshall Wace LLP increased its position in Hubbell by 418.1% during the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock valued at $128,620,000 after acquiring an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Hubbell in the fourth quarter worth approximately $95,868,000. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 191,893 shares in the last quarter. PointState Capital LP acquired a new position in Hubbell during the 4th quarter valued at approximately $78,443,000. Finally, Ameriprise Financial Inc. grew its position in 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 period. Institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company increased their price objective on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Barclays upped their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target 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. Finally, Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Hubbell has an average rating of "Hold" and a consensus target price of $462.29.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction that occurred 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 owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $154,516.00. Following the completion of the transaction, the director 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 disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Hubbell Price Performance

NYSE HUBB traded up $2.88 during trading on Monday, reaching $429.62. 553,272 shares of the company traded hands, compared to its average volume of 633,883. 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 quick ratio of 0.76 and a current ratio of 1.30. The stock's 50 day moving average price is $408.97 and its two-hundred day moving average price is $382.85. The company has a market cap of $22.93 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 2.39 and a beta of 0.99.

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

Hubbell Dividend Announcement

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

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.