Westwood Holdings Group Inc. Has $98.64 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Westwood Holdings Group Inc. grew its holdings in Hubbell Incorporated (NYSE:HUBB) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 269,889 shares of the industrial products company’s stock after purchasing an additional 24,157 shares during the quarter. Westwood Holdings Group Inc. owned about 0.50% of Hubbell worth $98,639,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 918,808 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Hubbell by 16.7% in the second 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 purchasing an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Hubbell by 16.9% during the first 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 purchasing an additional 286,134 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock valued at $487,995,000 after buying an additional 46,813 shares during the period. Finally, FIL Ltd increased its position in shares of Hubbell by 0.6% in the 4th quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock valued at $366,925,000 after buying an additional 6,526 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of the 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 owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’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 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. Company insiders own 0.66% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $426.01 on Friday. The company has a market capitalization of $22.87 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The business has a 50-day simple moving average of $381.79 and a two-hundred day simple moving average of $388.65. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. 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 (NYSE:HUBB) last issued its quarterly 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. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $4.07 earnings per share. Hubbell’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts expect that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on HUBB. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their price target for the stock 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. Barclays dropped their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley began coverage on Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

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.