QRG Capital Management Inc. Purchases 1,326 Shares of Hubbell Incorporated (NYSE:HUBB)

QRG Capital Management Inc. grew its position in Hubbell Incorporated (NYSE:HUBB) by 12.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,995 shares of the industrial products company’s stock after buying an additional 1,326 shares during the period. QRG Capital Management Inc.’s holdings in Hubbell were worth $4,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG boosted its stake in Hubbell by 78.3% in the third quarter. Deutsche Bank AG now owns 98,879 shares of the industrial products company’s stock valued at $30,990,000 after acquiring an additional 43,409 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Hubbell by 16.3% in the 3rd quarter. Wellington Management Group LLP now owns 358,432 shares of the industrial products company’s stock worth $112,336,000 after purchasing an additional 50,279 shares in the last quarter. Vanguard Group Inc. grew its stake in Hubbell by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock worth $1,810,812,000 after buying an additional 96,435 shares during the last quarter. Czech National Bank acquired a new position in Hubbell during the 4th quarter valued at about $3,090,000. Finally, First Hawaiian Bank boosted its holdings in Hubbell by 10.0% in the fourth quarter. First Hawaiian Bank now owns 4,950 shares of the industrial products company’s stock worth $1,628,000 after acquiring an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the transaction, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the transaction, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the sale, the insider now owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold 3,055 shares of company stock worth $1,232,139 over the last quarter. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on HUBB shares. Wells Fargo & Company lowered their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Barclays reduced their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, Mizuho upped their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

Hubbell Price Performance

HUBB traded down $22.69 on Wednesday, reaching $368.72. 138,553 shares of the company’s stock were exchanged, compared to its average volume of 452,031. The stock has a market cap of $19.80 billion, a PE ratio of 27.47, a P/E/G ratio of 1.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The stock’s fifty day moving average price is $384.41 and its 200-day moving average price is $376.83.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.61 earnings per share. Sell-side analysts expect that Hubbell Incorporated will post 16.33 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a dividend of $1.22 per share. The ex-dividend date was Friday, May 31st. This represents a $4.88 annualized dividend and a yield of 1.32%. Hubbell’s dividend payout ratio (DPR) is 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.