GAMMA Investing LLC Buys 215 Shares of Hubbell Inc (NYSE:HUBB)

GAMMA Investing LLC grew its stake in shares of Hubbell Inc (NYSE:HUBB) by 58.7% in the first quarter, HoldingsChannel.com reports. The firm owned 581 shares of the industrial products company’s stock after buying an additional 215 shares during the quarter. GAMMA Investing LLC’s holdings in Hubbell were worth $192,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Hubbell during the 4th quarter valued at $195,218,000. Marshall Wace LLP increased its position in shares of Hubbell by 418.1% in the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock valued at $128,620,000 after acquiring an additional 247,786 shares during the period. Bain Capital Public Equity Management II LLC bought a new position in shares of Hubbell during the fourth quarter valued at about $95,868,000. PointState Capital LP purchased a new stake in shares of Hubbell during the fourth quarter worth about $78,443,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Hubbell during the fourth quarter worth about $63,647,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 0.1%

HUBB stock opened at $414.82 on Friday. Hubbell Inc has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The business’s 50 day moving average price is $385.54 and its two-hundred day moving average price is $383.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.60 earnings per share. As a group, analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

Insider Transactions at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the sale, the director owned 1,727 shares in the company, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gerben Bakker sold 7,723 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the transaction, the chief executive officer directly owned 82,101 shares of the company’s stock, valued at $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HUBB. Wells Fargo & Company set a $420.00 price target on Hubbell and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, Barclays lifted their price target on shares of Hubbell from $400.00 to $414.00 and gave the company an “equal weight” rating in a report on Monday, June 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $455.50.

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.