GAMMA Investing LLC Boosts Position in Hubbell Incorporated (NYSE:HUBB)

GAMMA Investing LLC raised its stake in Hubbell Incorporated (NYSE:HUBB) by 133.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366 shares of the industrial products company’s stock after purchasing an additional 209 shares during the period. GAMMA Investing LLC’s holdings in Hubbell were worth $153,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after acquiring an additional 1,252 shares in the last quarter. LGT Capital Partners LTD. acquired a new stake in shares of Hubbell in the 3rd quarter valued at about $39,687,000. Principal Financial Group Inc. grew its stake in Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares during the last quarter. Private Advisor Group LLC increased its position in Hubbell by 89.0% during the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock worth $1,713,000 after buying an additional 2,207 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after buying an additional 279,654 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $434.76 on Thursday. Hubbell Incorporated has a 52 week low of $319.03 and a 52 week high of $481.35. The company has a 50-day moving average price of $444.93 and a 200 day moving average price of $414.36. The company has a market cap of $23.33 billion, a P/E ratio of 31.32, a PEG ratio of 1.69 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $3.95 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of a number of research reports. Barclays raised their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company lowered their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $471.50.

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.