Hudson Edge Investment Partners Inc. Has $5.96 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Hudson Edge Investment Partners Inc. raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,317 shares of the industrial products company’s stock after buying an additional 678 shares during the quarter. Hubbell comprises 1.2% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 22nd largest holding. Hudson Edge Investment Partners Inc.’s holdings in Hubbell were worth $5,964,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Triasima Portfolio Management inc. lifted its stake in shares of Hubbell by 11.4% in the second quarter. Triasima Portfolio Management inc. now owns 13,849 shares of the industrial products company’s stock valued at $5,062,000 after buying an additional 1,420 shares during the period. Caprock Group LLC acquired a new position in Hubbell in the 2nd quarter valued at approximately $1,529,000. Acadian Asset Management LLC lifted its position in shares of Hubbell by 51.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after acquiring an additional 1,252 shares during the period. Otter Creek Advisors LLC grew its holdings in shares of Hubbell by 144.7% during the 2nd quarter. Otter Creek Advisors LLC now owns 11,344 shares of the industrial products company’s stock worth $4,146,000 after purchasing an additional 6,709 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in shares of Hubbell by 9.9% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 70,310 shares of the industrial products company’s stock worth $25,697,000 after purchasing an additional 6,335 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Price Performance

NYSE HUBB traded up $0.51 during trading hours on Friday, reaching $370.93. 381,357 shares of the company’s stock were exchanged, compared to its average volume of 458,475. The firm has a fifty day moving average of $375.57 and a 200-day moving average of $386.35. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The stock has a market cap of $19.91 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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 return on equity of 28.98% and a net margin of 13.14%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior 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. On average, equities research analysts predict that Hubbell Incorporated will post 16.39 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays cut their target price on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note 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 report on Wednesday, July 31st. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and raised their price target for the stock from $431.00 to $441.00 in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and six have issued 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 $404.88.

Insiders Place Their Bets

In other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on 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 $608,781.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total value 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. 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.