Virtu Financial LLC Has $3.60 Million Position in Hubbell Incorporated (NYSE:HUBB)

Virtu Financial LLC increased its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 554.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,858 shares of the industrial products company's stock after purchasing an additional 8,351 shares during the quarter. Virtu Financial LLC's holdings in Hubbell were worth $3,603,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in Hubbell in the fourth quarter worth approximately $40,000. Dimensional Fund Advisors LP raised its stake in Hubbell by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 363,891 shares of the industrial products company's stock valued at $119,693,000 after buying an additional 19,655 shares in the last quarter. Beacon Pointe Advisors LLC grew its holdings in shares of Hubbell by 4.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 6,017 shares of the industrial products company's stock worth $1,979,000 after purchasing an additional 274 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Hubbell by 2.7% during the fourth quarter. Brown Advisory Inc. now owns 6,429 shares of the industrial products company's stock worth $2,115,000 after purchasing an additional 166 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in shares of Hubbell during the fourth quarter worth about $1,411,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HUBB shares. Morgan Stanley initiated coverage on Hubbell in a report on Friday, September 6th. They set an "equal weight" rating and a $407.00 price target on the stock. Stephens reiterated an "overweight" rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their target price on shares of Hubbell from $397.00 to $400.00 and gave the stock 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 given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $404.88.

Insider Transactions at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following 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 available through this link. In related news, Director Carlos M. Cardoso sold 450 shares of the business'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 transaction of $164,043.00. Following the completion of 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 SEC, which is available at this link. Also, CEO Gerben Bakker sold 15,677 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was 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 directly owns 66,415 shares of the company's stock, valued at $24,861,791.10. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Hubbell Price Performance

NYSE:HUBB traded up $2.47 during trading hours on Tuesday, reaching $411.29. 399,874 shares of the company's stock were exchanged, compared to its average volume of 454,541. The business's 50-day simple moving average is $378.51 and its two-hundred day simple moving average is $387.81. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $22.08 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.13. The company 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 revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $4.07 EPS. Sell-side analysts expect that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $1.22 per share. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.19%. Hubbell's payout ratio is 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.