State of New Jersey Common Pension Fund D Has $7.32 Million Position in Hubbell Incorporated (NYSE:HUBB)

State of New Jersey Common Pension Fund D lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 32.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,035 shares of the industrial products company’s stock after selling 9,592 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Hubbell were worth $7,322,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Hubbell by 4.1% during the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after acquiring an additional 6,275 shares in the last quarter. Clearbridge Investments LLC bought a new stake in Hubbell in the fourth quarter valued at approximately $1,258,000. Focus Financial Network Inc. ADV bought a new stake in Hubbell in the fourth quarter valued at approximately $636,000. TD Asset Management Inc raised its stake in Hubbell by 343.8% in the fourth quarter. TD Asset Management Inc now owns 43,785 shares of the industrial products company’s stock valued at $14,402,000 after buying an additional 33,920 shares during the period. Finally, IFG Advisory LLC bought a new stake in Hubbell in the second quarter valued at approximately $475,000. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction 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 directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hubbell Trading Up 1.4 %

Shares of NYSE:HUBB opened at $404.63 on Monday. The company has a market capitalization of $21.72 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.44 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The business’s 50 day simple moving average is $377.87 and its 200 day simple moving average is $387.61.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share 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 the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.07 EPS. On average, research analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on HUBB shares. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens restated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note 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 research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays lowered their target price on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $404.88.

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.