Regents Gate Capital LLP Invests $1.62 Million in Hubbell Inc (NYSE:HUBB)

Regents Gate Capital LLP purchased a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,883 shares of the industrial products company's stock, valued at approximately $1,616,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HUBB. Jones Financial Companies Lllp grew its stake in shares of Hubbell by 168.4% in the 4th quarter. Jones Financial Companies Lllp now owns 883 shares of the industrial products company's stock worth $370,000 after buying an additional 554 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Hubbell in the 4th quarter worth $40,533,000. Raymond James Financial Inc. purchased a new position in shares of Hubbell during the fourth quarter valued at about $63,647,000. Amundi grew its position in Hubbell by 4.2% in the fourth quarter. Amundi now owns 253,323 shares of the industrial products company's stock worth $108,766,000 after acquiring an additional 10,316 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Hubbell by 31.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 42,770 shares of the industrial products company's stock worth $17,916,000 after acquiring an additional 10,135 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 82,101 shares in the company, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the sale, 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. Insiders own 0.66% of the company's stock.

Hubbell Price Performance

Shares of NYSE HUBB traded down $3.08 during midday trading on Friday, hitting $419.18. The company had a trading volume of 521,464 shares, compared to its average volume of 536,271. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. Hubbell Inc has a twelve month low of $299.43 and a twelve month high of $481.35. The business has a 50-day simple moving average of $391.50 and a two-hundred day simple moving average of $383.29. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.26%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays lifted their price target on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective 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 set a $420.00 price objective on shares of Hubbell and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company 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.