SRN Advisors LLC Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

SRN Advisors LLC raised its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,153 shares of the industrial products company’s stock after buying an additional 218 shares during the quarter. Hubbell comprises approximately 1.3% of SRN Advisors LLC’s holdings, making the stock its 18th largest position. SRN Advisors LLC’s holdings in Hubbell were worth $1,724,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nvwm LLC bought a new position in shares of Hubbell during the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 74 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of Hubbell during the 4th quarter valued at approximately $33,000. Finally, Principal Securities Inc. bought a new position in shares of Hubbell during the 4th quarter valued at approximately $40,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of HUBB stock traded down $13.58 during trading hours on Friday, hitting $366.19. 599,728 shares of the company’s stock were exchanged, compared to its average volume of 556,012. The company has a quick ratio of 1.03, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The firm has a market cap of $19.66 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.43 and a beta of 0.90. The firm has a 50 day moving average of $376.65 and a two-hundred day moving average of $380.74. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company earned $4.07 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Sell-side analysts forecast that Hubbell Incorporated will post 16.38 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HUBB shares. Barclays lowered their target price on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. boosted 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, Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday. Five investment 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 an average target price of $402.57.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction on 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 approximately $1,722,348.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the transaction, the insider now owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The disclosure for this sale can be found here. Insiders sold 3,055 shares of company stock valued at $1,232,139 in the last three months. 0.66% of the stock is currently owned by insiders.

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.