GAMMA Investing LLC Has $67,000 Stock Position in Hubbell Incorporated (NYSE:HUBB)

GAMMA Investing LLC raised its position in shares of Hubbell Incorporated (NYSE:HUBB) by 84.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 157 shares of the industrial products company’s stock after purchasing an additional 72 shares during the quarter. GAMMA Investing LLC’s holdings in Hubbell were worth $67,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Czech National Bank increased its holdings in shares of Hubbell by 6.9% during the third quarter. Czech National Bank now owns 10,935 shares of the industrial products company’s stock valued at $4,684,000 after acquiring an additional 705 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Hubbell in the 2nd quarter worth about $294,000. Sanctuary Advisors LLC bought a new position in Hubbell in the 2nd quarter valued at about $2,176,000. Cetera Investment Advisers boosted its stake in Hubbell by 8.2% during the 2nd quarter. Cetera Investment Advisers now owns 6,484 shares of the industrial products company’s stock valued at $2,370,000 after purchasing an additional 493 shares during the last quarter. Finally, Quarry LP bought a new stake in Hubbell during the 2nd quarter worth approximately $49,000. 88.16% of the stock is owned by institutional investors.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hubbell news, 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 completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

HUBB has been the topic of a number of recent research reports. Barclays raised their target price on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Morgan Stanley began coverage on Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Wells Fargo & Company increased their price target on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $423.13.

Hubbell Price Performance

Hubbell stock opened at $451.39 on Wednesday. The business has a fifty day moving average price of $403.55 and a 200-day moving average price of $392.50. Hubbell Incorporated has a one year low of $248.37 and a one year high of $461.77. The firm has a market capitalization of $24.23 billion, a P/E ratio of 33.66, a PEG ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $4.07 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.08%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

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.