Intech Investment Management LLC Has $7.28 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Intech Investment Management LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 46.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,922 shares of the industrial products company’s stock after selling 17,471 shares during the quarter. Intech Investment Management LLC’s holdings in Hubbell were worth $7,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nvwm LLC acquired a new stake in shares of Hubbell during the first quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the period. Principal Securities Inc. bought a new position in Hubbell during the fourth quarter worth $40,000. Riverview Trust Co acquired a new position in Hubbell in the 1st quarter valued at about $52,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Hubbell in the first quarter valued at approximately $56,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

A number of research firms have commented on HUBB. Stephens restated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Wells Fargo & Company upped their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Barclays lowered their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. 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. Finally, Morgan Stanley initiated coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $404.88.

Hubbell Stock Performance

Shares of HUBB stock opened at $426.01 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The company has a market capitalization of $22.87 billion, a P/E ratio of 31.77, a PEG ratio of 1.44 and a beta of 0.90. The stock has a 50 day moving average price of $381.79 and a two-hundred day moving average price of $388.65.

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

Hubbell Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s payout ratio is currently 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.