Edgestream Partners L.P. Purchases New Shares in Hubbell Incorporated (NYSE:HUBB)

Edgestream Partners L.P. acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,608 shares of the industrial products company’s stock, valued at approximately $2,781,000.

Other hedge funds have also bought and sold shares of the company. Nvwm LLC purchased a new position in shares of Hubbell during the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares during the period. Principal Securities Inc. bought a new position in shares of Hubbell during the fourth quarter valued at approximately $40,000. Riverview Trust Co purchased a new stake in shares of Hubbell in the first quarter worth approximately $52,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Hubbell during the first quarter worth $56,000. Institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley began coverage on Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Barclays cut their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $409.86 on Thursday. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $22.00 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The company’s 50 day moving average is $380.00 and its 200 day moving average is $388.15.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.07 earnings per share. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

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.