Versor Investments LP Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Versor Investments LP purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,000 shares of the industrial products company’s stock, valued at approximately $731,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after buying an additional 918,808 shares in the last quarter. Norges Bank acquired a new position in Hubbell during the fourth quarter worth $143,024,000. Bank of New York Mellon Corp boosted its position in Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Hubbell by 24.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after buying an additional 248,493 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the business’s 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 completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 in the company, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Down 5.2 %

HUBB stock opened at $378.96 on Wednesday. The company has a 50 day moving average price of $375.39 and a two-hundred day moving average price of $386.46. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The stock has a market capitalization of $20.34 billion, a P/E ratio of 28.26, a PEG ratio of 1.51 and a beta of 0.90. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS 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 business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $4.07 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Hubbell Incorporated will post 16.39 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.29%. Hubbell’s payout ratio is currently 36.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HUBB shares. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Barclays reduced their price target on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, 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 report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $402.57.

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.