XTX Topco Ltd Buys New Shares in Hubbell Incorporated (NYSE:HUBB)

XTX Topco Ltd purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,222 shares of the industrial products company’s stock, valued at approximately $2,639,000.

A number of other hedge funds also recently modified their holdings of HUBB. Principal Securities Inc. acquired a new position in shares of Hubbell during the fourth quarter worth $40,000. Brown Advisory Inc. increased its holdings in shares of Hubbell by 2.7% during the fourth quarter. Brown Advisory Inc. now owns 6,429 shares of the industrial products company’s stock valued at $2,115,000 after acquiring an additional 166 shares in the last quarter. Norges Bank bought a new position in shares of Hubbell in the fourth quarter valued at $143,024,000. UBS Group AG boosted its position in shares of Hubbell by 52.7% during the fourth quarter. UBS Group AG now owns 46,749 shares of the industrial products company’s stock valued at $15,377,000 after buying an additional 16,133 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Hubbell by 29.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,086 shares of the industrial products company’s stock valued at $1,015,000 after purchasing an additional 696 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 directly owns 1,670 shares in the company, valued at $608,781.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the 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 transaction, the director now directly 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Barclays lowered their price target on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.88.

Hubbell Trading Down 0.3 %

HUBB stock opened at $409.86 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The firm has a fifty day moving average price of $380.00 and a 200 day moving average price of $388.15. The firm has a market cap of $22.00 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued 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. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm earned $4.07 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, August 30th. Hubbell’s payout ratio is currently 36.39%.

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.