Mercer Global Advisors Inc. ADV Acquires 297 Shares of Hubbell Incorporated (NYSE:HUBB)

Mercer Global Advisors Inc. ADV increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,578 shares of the industrial products company’s stock after purchasing an additional 297 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Hubbell were worth $4,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. CWM LLC grew its stake in shares of Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after purchasing an additional 28 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in shares of Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 30 shares during the last quarter. Detalus Advisors LLC grew its stake in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 30 shares during the last quarter. Savant Capital LLC boosted its position in Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 31 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 35 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

Shares of 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 stock has a market cap of $22.87 billion, a P/E ratio of 31.77, a P/E/G ratio of 1.44 and a beta of 0.90. The business’s 50 day moving average price is $381.79 and its 200-day moving average price is $388.71. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $4.07 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on HUBB shares. Wells Fargo & Company lifted their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and lifted their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Finally, Barclays cut their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $404.88.

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’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 completion of the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.