Vanguard Group Inc. Has $2.19 Billion Stock Position in Hubbell Inc (NYSE:HUBB)

Vanguard Group Inc. reduced its position in Hubbell Inc (NYSE:HUBB) by 0.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,625,414 shares of the industrial products company’s stock after selling 9,291 shares during the period. Vanguard Group Inc. owned about 12.35% of Hubbell worth $2,192,416,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas raised its holdings in Hubbell by 1,462.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company’s stock valued at $2,596,000 after acquiring an additional 7,344 shares during the period. Private Trust Co. NA raised its holdings in 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 acquiring an additional 110 shares during the period. Stratos Wealth Partners LTD. raised its holdings in 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 acquiring an additional 360 shares during the period. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 215 shares during the period. Finally, CX Institutional bought a new position in Hubbell in the 1st quarter valued at about $49,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the business’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 transaction, the director directly owned 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $2,970,497.49. Following the transaction, the chief executive officer owned 82,101 shares of the company’s stock, valued at approximately $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 owned by insiders.

Wall Street Analyst Weigh In

HUBB has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of Hubbell from $420.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Barclays increased their price target on shares of Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Wall Street Zen raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. lifted 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $462.29.

Hubbell Stock Up 0.2%

NYSE HUBB opened at $418.86 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The company has a 50 day moving average of $411.87 and a 200-day moving average of $382.52. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.34 and a beta of 0.99.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. On average, equities research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed 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 is Friday, August 29th. Hubbell’s payout ratio is currently 34.29%.

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.