Westwood Holdings Group Inc. Has $98.48 Million Stock Holdings in Hubbell Inc (NYSE:HUBB)

Key Points

• Westwood Holdings Group Inc. increased its stake in Hubbell Inc. by 13.4% in Q1, owning approximately $98.48 million worth of the stock.
• Hubbell reported Q2 earnings of $4.93 per share, exceeding estimates, with revenue of $1.48 billion for the quarter.
• The company announced a quarterly dividend of $1.32 per share, translating to an annual yield of 1.2%, with a payout ratio of 34.29%.

Westwood Holdings Group Inc. raised its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,598 shares of the industrial products company's stock after acquiring an additional 35,127 shares during the period. Hubbell makes up 0.7% of Westwood Holdings Group Inc.'s portfolio, making the stock its 29th biggest holding. Westwood Holdings Group Inc. owned approximately 0.55% of Hubbell worth $98,478,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HUBB. Marshall Wace LLP lifted its stake in shares of Hubbell by 418.1% in the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock valued at $128,620,000 after buying an additional 247,786 shares during the period. Bain Capital Public Equity Management II LLC bought a new stake in shares of Hubbell in the fourth quarter valued at about $95,868,000. GAMMA Investing LLC lifted its stake in shares of Hubbell by 52,429.8% in the first 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 during the period. PointState Capital LP bought a new stake in shares of Hubbell in the fourth quarter valued at about $78,443,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Hubbell by 80.1% in the fourth quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company's stock valued at $140,876,000 after buying an additional 149,622 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Price Performance

HUBB traded down $5.89 during midday trading on Thursday, reaching $417.68. 459,234 shares of the company's stock were exchanged, compared to its average volume of 629,176. The firm has a market capitalization of $22.29 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 2.37 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35. The business has a 50-day simple moving average of $411.30 and a two-hundred day simple moving average of $383.25.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.3%. Hubbell's dividend payout ratio (DPR) is presently 34.29%.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the firm'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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $154,516.00. Following the completion of the sale, 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. Company insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Barclays raised their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Five research 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $462.29.

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.