Sustainable Insight Capital Management LLC Acquires 2,700 Shares of Hubbell Incorporated (NYSE:HUBB)

Sustainable Insight Capital Management LLC grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 60.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,200 shares of the industrial products company’s stock after buying an additional 2,700 shares during the quarter. Hubbell accounts for approximately 1.3% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 25th largest holding. Sustainable Insight Capital Management LLC’s holdings in Hubbell were worth $2,631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of HUBB. Vanguard Group Inc. grew its holdings in Hubbell by 15.9% in the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after acquiring an additional 918,808 shares during the last quarter. Norges Bank purchased a new stake in shares of Hubbell during the fourth quarter worth about $143,024,000. Impax Asset Management Group plc grew its stake in shares of Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after purchasing an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in 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 during the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Activity

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at $608,781.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

HUBB has been the subject of several research reports. Barclays decreased their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Morgan Stanley began coverage on Hubbell in a research report on Friday. They set an “equal weight” rating and a $407.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a research report on Friday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $370.96 on Friday. 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 firm has a market cap of $19.92 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The business has a 50-day simple moving average of $375.46 and a two-hundred day simple moving average of $386.27. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

Hubbell (NYSE:HUBB) last announced 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. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.07 EPS. On average, analysts expect that Hubbell Incorporated will post 16.39 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, August 30th. Hubbell’s dividend payout ratio is presently 36.39%.

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.