Teacher Retirement System of Texas Increases Stake in Hubbell Inc (NYSE:HUBB)

Teacher Retirement System of Texas boosted its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 1,462.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,846 shares of the industrial products company's stock after acquiring an additional 7,344 shares during the period. Teacher Retirement System of Texas' holdings in Hubbell were worth $2,596,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV raised its position in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares during the period. Tsfg LLC bought a new stake in shares of Hubbell in the first quarter valued at approximately $30,000. Johnson Financial Group Inc. raised its position in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 65 shares during the period. NBC Securities Inc. bought a new stake in shares of Hubbell in the first quarter valued at approximately $49,000. Finally, CX Institutional bought a new stake in shares of Hubbell in the first quarter valued at approximately $49,000. Institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

NYSE:HUBB traded down $3.08 during mid-day trading on Friday, hitting $419.18. 521,464 shares of the stock traded hands, compared to its average volume of 536,423. The business's 50-day moving average price is $392.77 and its 200 day moving average price is $382.53. The company 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. Hubbell Inc has a 12-month low of $299.43 and a 12-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 issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. Hubbell's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.60 EPS. On average, analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $1.32 dividend. The ex-dividend date of this dividend 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 is presently 35.72%.

Insider Buying and Selling

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 value of $2,970,497.49. Following the completion of the transaction, the chief executive officer owned 82,101 shares of the company's stock, valued at $31,578,507.63. The trade was a 8.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of 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 position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on HUBB shares. Wells Fargo & Company set a $420.00 price target on shares of Hubbell and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. 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, Barclays boosted their price target on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Hubbell presently has a consensus rating of "Hold" and a consensus target price of $456.25.

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.