Regents Gate Capital LLP Takes Position in Hubbell Inc (NYSE:HUBB)

Regents Gate Capital LLP acquired a new position in Hubbell Inc (NYSE:HUBB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,883 shares of the industrial products company's stock, valued at approximately $1,616,000.

A number of other large investors have also added to or reduced their stakes in HUBB. CX Institutional purchased a new position in Hubbell during the 1st quarter valued at $49,000. GAMMA Investing LLC increased its position in Hubbell by 58.7% during 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 in the last quarter. UMB Bank n.a. increased its position in Hubbell by 21.1% during the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company's stock valued at $107,000 after buying an additional 56 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Hubbell by 139.4% in the first quarter. Golden State Wealth Management LLC now owns 395 shares of the industrial products company's stock valued at $131,000 after purchasing an additional 230 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Hubbell by 43.6% in the first quarter. Blue Trust Inc. now owns 382 shares of the industrial products company's stock valued at $126,000 after purchasing an additional 116 shares during the period. Institutional investors own 88.16% of the company's stock.

Insider Buying and Selling

In related news, 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos M. Cardoso sold 400 shares of the business's 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 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company set a $420.00 target price on Hubbell and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Barclays increased their price target on Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a report on Wednesday. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $456.25.

Hubbell Price Performance

Shares of HUBB traded up $6.41 on Wednesday, reaching $418.91. The stock had a trading volume of 628,710 shares, compared to its average volume of 533,551. The firm has a 50-day moving average of $388.80 and a 200 day moving average of $383.07. The firm has a market capitalization of $22.36 billion, a PE ratio of 28.34, a PEG ratio of 1.44 and a beta of 0.99. Hubbell Inc has a twelve month low of $299.43 and a twelve month high of $481.35. 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 (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). The company had revenue of $1.37 billion during 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% compared to the same quarter last year. During the same period last year, the firm earned $3.60 earnings per share. Sell-side analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

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

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.