Hubbell Inc (NYSE:HUBB) Stock Position Raised by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 377.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,888 shares of the industrial products company's stock after buying an additional 10,191 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Hubbell were worth $4,265,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in Hubbell by 1,462.9% during the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock worth $2,596,000 after buying an additional 7,344 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Hubbell by 60.4% in the 1st 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 in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Hubbell by 29.6% in the 1st 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 in the last quarter. CX Institutional purchased a new position in shares of Hubbell in the 1st quarter valued at about $49,000. Finally, GAMMA Investing LLC increased its holdings in shares of Hubbell by 58.7% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Activity at Hubbell

In related news, 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 value of $154,516.00. Following the sale, the director directly owned 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 82,101 shares in the company, valued at $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hubbell Trading Up 0.6%

HUBB stock traded up $2.50 during midday trading on Thursday, hitting $437.45. The stock had a trading volume of 443,972 shares, compared to its average volume of 637,613. The firm has a market cap of $23.35 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 2.47 and a beta of 0.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The company's 50-day moving average price is $402.47 and its 200 day moving average price is $383.27.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results 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). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The firm's revenue was down 2.4% on a year-over-year basis. On average, equities research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. Hubbell's dividend payout ratio is presently 35.72%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Wells Fargo & Company set a $420.00 target price on shares of Hubbell and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Hubbell presently has an average rating of "Hold" and a consensus target price of $456.25.

About Hubbell

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.