Acadian Asset Management LLC Acquires 1,252 Shares of Hubbell Incorporated (NYSE:HUBB)

Acadian Asset Management LLC boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 51.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,693 shares of the industrial products company’s stock after acquiring an additional 1,252 shares during the period. Acadian Asset Management LLC’s holdings in Hubbell were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in Hubbell by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after acquiring an additional 6,275 shares during the period. Clearbridge Investments LLC bought a new position in Hubbell during the 4th quarter worth $1,258,000. Focus Financial Network Inc. ADV bought a new position in Hubbell during the 4th quarter worth $636,000. TD Asset Management Inc increased its position in Hubbell by 343.8% during the 4th quarter. TD Asset Management Inc now owns 43,785 shares of the industrial products company’s stock worth $14,402,000 after buying an additional 33,920 shares during the period. Finally, IFG Advisory LLC bought a new position in Hubbell during the 2nd quarter worth $475,000. Institutional investors own 88.16% of the company’s stock.

Insider Activity

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly 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 accessible through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly 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 accessible through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $404.63 on Monday. The stock’s 50-day simple moving average is $377.87 and its 200 day simple moving average is $387.61. The firm has a market capitalization of $21.72 billion, a PE ratio of 30.17, 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.

Hubbell (NYSE:HUBB) last released 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. The business 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%. Hubbell’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $4.07 earnings per share. On average, analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HUBB shares. JPMorgan Chase & Co. increased their price objective on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Barclays lowered their price objective 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. Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company increased their target price on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley assumed coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Hubbell 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.