GAMMA Investing LLC Grows Stake in Hubbell Incorporated (NYSE:HUBB)

GAMMA Investing LLC raised its holdings in Hubbell Incorporated (NYSE:HUBB) by 84.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 157 shares of the industrial products company’s stock after buying an additional 72 shares during the quarter. GAMMA Investing LLC’s holdings in Hubbell were worth $67,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in HUBB. Nordea Investment Management AB lifted its holdings in Hubbell by 4.1% in the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after buying an additional 6,275 shares during the period. IFG Advisory LLC bought a new stake in shares of Hubbell during the 2nd quarter valued at $475,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Hubbell by 81.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock worth $22,565,000 after buying an additional 24,321 shares during the period. New Mexico Educational Retirement Board increased its stake in shares of Hubbell by 304.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock worth $4,685,000 after acquiring an additional 8,497 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC purchased a new position in Hubbell during the 1st quarter valued at about $1,868,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

NYSE HUBB opened at $451.39 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.77. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 1.67 and a beta of 0.90. The business’s fifty day moving average price is $403.55 and its 200-day moving average price is $392.50.

Hubbell (NYSE:HUBB) last posted 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. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company earned $4.07 earnings per share. Hubbell’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts predict that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $1.22 per share. The ex-dividend date was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.08%. Hubbell’s dividend payout ratio is currently 36.39%.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley initiated coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Stephens reiterated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Barclays upped their price objective on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and an average target price of $423.13.

Hubbell Company 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.