Hubbell Incorporated (NYSE:HUBB) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in Hubbell Incorporated (NYSE:HUBB) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 376,518 shares of the industrial products company’s stock after purchasing an additional 22,951 shares during the quarter. Dimensional Fund Advisors LP owned about 0.70% of Hubbell worth $137,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of HUBB. Vanguard Group Inc. boosted its holdings in Hubbell by 15.9% in the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after acquiring an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after acquiring an additional 286,134 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Hubbell by 575.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after acquiring an additional 245,536 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction 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 directly 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 available at this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following 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. Insiders own 0.66% of the company’s stock.

Hubbell Trading Up 0.8 %

Shares of NYSE:HUBB opened at $426.01 on Friday. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61. The company’s 50 day moving average is $381.79 and its two-hundred day moving average is $388.71. 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 $22.87 billion, a PE ratio of 31.77, a P/E/G ratio of 1.44 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted $4.07 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio is presently 36.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HUBB shares. Barclays decreased their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley initiated coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Stephens reiterated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

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.