805 Shares in Hubbell Incorporated (NYSE:HUBB) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 805 shares of the industrial products company’s stock, valued at approximately $294,000.

Other institutional investors have also recently modified their holdings of the company. Nvwm LLC acquired a new stake in shares of Hubbell during the 1st quarter worth approximately $25,000. Riverview Trust Co acquired a new stake in shares of Hubbell in the 1st quarter valued at $52,000. Northwest Investment Counselors LLC bought a new position in shares of Hubbell in the 1st quarter valued at $56,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Hubbell during the 2nd quarter worth $62,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after buying an additional 35 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on 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 in the company, valued at $24,861,791.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 in the company, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Hubbell Stock Performance

Shares of Hubbell stock opened at $427.95 on Friday. The stock has a market cap of $22.97 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $433.03. The company’s fifty day moving average is $385.83 and its 200 day moving average is $389.69. 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 (NYSE:HUBB) last issued its quarterly earnings results 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 company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.07 earnings per share. Sell-side analysts forecast that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio is currently 36.39%.

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.