National Bank of Canada FI Grows Position in Hubbell Incorporated (NYSE:HUBB)

National Bank of Canada FI grew its stake in Hubbell Incorporated (NYSE:HUBB) by 24.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,756 shares of the industrial products company’s stock after buying an additional 2,915 shares during the period. National Bank of Canada FI’s holdings in Hubbell were worth $5,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nvwm LLC acquired a new stake in Hubbell during the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the period. Principal Securities Inc. purchased a new stake in Hubbell in the fourth quarter valued at approximately $40,000. Riverview Trust Co acquired a new position in Hubbell in the 1st quarter worth approximately $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in Hubbell during the 1st quarter worth approximately $56,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 1.9 %

Shares of HUBB opened at $378.12 on Tuesday. The firm has a market cap of $20.30 billion, a P/E ratio of 28.20, a PEG ratio of 1.40 and a beta of 0.90. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The stock’s 50 day moving average is $375.57 and its two-hundred day moving average is $386.79. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $1.22 per share. The ex-dividend date is Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.29%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Barclays decreased their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their target price for the stock from $431.00 to $441.00 in a report on Friday. Finally, Morgan Stanley started coverage on Hubbell in a report on Friday. They issued an “equal weight” rating and a $407.00 price target for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gerben Bakker sold 15,677 shares of the business’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 transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated 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 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 corporate insiders.

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.