XTX Topco Ltd Acquires Shares of 1,496 Hubbell Inc (NYSE:HUBB)

XTX Topco Ltd acquired a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,496 shares of the industrial products company's stock, valued at approximately $495,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its position in Hubbell by 1,462.9% during the first quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock valued at $2,596,000 after purchasing an additional 7,344 shares during the period. Private Trust Co. NA raised its position in Hubbell by 60.4% during the first quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 110 shares during the period. Stratos Wealth Partners LTD. raised its position in Hubbell by 29.6% during the first quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company's stock valued at $522,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC raised its position in Hubbell by 58.7% during the first quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock valued at $192,000 after purchasing an additional 215 shares during the period. Finally, CX Institutional purchased a new stake in Hubbell during the first quarter valued at approximately $49,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 1.4%

HUBB opened at $417.68 on Friday. The stock's fifty day moving average is $411.30 and its two-hundred day moving average is $383.25. The company has a market capitalization of $22.29 billion, a P/E ratio of 27.12, a PEG ratio of 2.37 and a beta of 0.99. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $481.35. 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 (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.36 by $0.57. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction 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 sale, the director directly owned 1,727 shares in the company, valued at $667,122.83. This trade represents 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 company insiders.

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.

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