Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Seven Eight Capital LP

Seven Eight Capital LP grew its position in shares of Hubbell Incorporated (NYSE:HUBB) by 333.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,312 shares of the industrial products company’s stock after purchasing an additional 11,778 shares during the quarter. Hubbell accounts for 0.6% of Seven Eight Capital LP’s portfolio, making the stock its 13th largest position. Seven Eight Capital LP’s holdings in Hubbell were worth $5,596,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Hubbell by 6.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,584 shares of the industrial products company’s stock valued at $3,130,000 after purchasing an additional 543 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Hubbell by 2.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,578 shares of the industrial products company’s stock worth $4,232,000 after buying an additional 297 shares during the period. Virtu Financial LLC raised its position in Hubbell by 554.1% during the second quarter. Virtu Financial LLC now owns 9,858 shares of the industrial products company’s stock valued at $3,603,000 after buying an additional 8,351 shares during the period. Edgestream Partners L.P. purchased a new stake in Hubbell in the 2nd quarter worth about $2,781,000. Finally, Dimensional Fund Advisors LP boosted its position in Hubbell by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock worth $137,622,000 after acquiring an additional 22,951 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Up 0.6 %

HUBB stock opened at $411.29 on Wednesday. The company has a market cap of $22.08 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. 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 Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The business’s 50-day simple moving average is $379.31 and its 200 day simple moving average is $388.00.

Hubbell (NYSE:HUBB) last announced 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. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.07 earnings per share. On average, research analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.19%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated 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 owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the company’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 sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HUBB. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Morgan Stanley initiated coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target for the company. Barclays decreased their price target on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.