Virtu Financial LLC Makes New $625,000 Investment in Hubbell Incorporated (NYSE:HUBB)

Virtu Financial LLC bought a new position in Hubbell Incorporated (NYSE:HUBB) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,507 shares of the industrial products company’s stock, valued at approximately $625,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Hubbell by 16.9% during the 1st 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Hubbell by 14.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,743,746 shares of the industrial products company’s stock valued at $723,741,000 after purchasing an additional 216,600 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Hubbell by 32,734.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after purchasing an additional 1,468,463 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Hubbell by 24.4% during the 4th 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 purchasing an additional 248,493 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 3.5 %

Shares of HUBB stock traded down $13.42 during trading hours on Friday, hitting $366.35. 599,728 shares of the company were exchanged, compared to its average volume of 469,013. The business has a 50 day moving average of $377.58 and a two-hundred day moving average of $380.10. The company has a current ratio of 1.81, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61. The company has a market capitalization of $19.67 billion, a PE ratio of 27.24, a PEG ratio of 1.46 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $4.07 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Hubbell Incorporated will post 16.36 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given 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 yield of 1.33%. Hubbell’s dividend payout ratio is presently 36.39%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HUBB. Wells Fargo & Company raised their target price on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays lowered their target price on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $402.57.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction 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 completion of the sale, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction 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 completion of the sale, the insider now 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 this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now directly owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold a total of 3,055 shares of company stock worth $1,232,139 in the last ninety days. Company insiders own 0.66% of the company’s stock.

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.