Seven Eight Capital LP Has $5.60 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Seven Eight Capital LP increased its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 333.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,312 shares of the industrial products company's stock after purchasing an additional 11,778 shares during the quarter. Hubbell comprises about 0.6% of Seven Eight Capital LP's portfolio, making the stock its 13th biggest holding. Seven Eight Capital LP's holdings in Hubbell were worth $5,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nvwm LLC acquired a new position in Hubbell during the first quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $26,000 after acquiring an additional 74 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Hubbell in the 4th quarter worth $40,000. Riverview Trust Co purchased a new stake in shares of Hubbell during the first quarter valued at $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in Hubbell in the 1st quarter worth about $56,000. Institutional investors own 88.16% of the company's stock.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the company's stock in a transaction dated 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 transaction, the director now owns 1,670 shares of the company's stock, valued at $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated 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 directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated 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 transaction, the director now directly owns 1,670 shares of the company's stock, valued at approximately $608,781.80. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley initiated coverage on shares of Hubbell in a research note on Friday, September 6th. They set an "equal weight" rating and a $407.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a "hold" rating to a "buy" rating and increased their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company boosted their price objective on shares of Hubbell from $397.00 to $400.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 31st. Finally, Barclays cut 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 report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of "Moderate Buy" and a consensus price target of $404.88.

Hubbell Stock Down 0.3 %

Hubbell stock traded down $1.43 during mid-day trading on Wednesday, hitting $409.86. 427,272 shares of the company's stock were exchanged, compared to its average volume of 454,390. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The stock has a 50 day moving average of $380.00 and a two-hundred day moving average of $388.15. The stock has a market cap of $22.00 billion, a P/E ratio of 30.56, a P/E/G ratio of 1.44 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 - Get Free Report) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share 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 firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company earned $4.07 EPS. The company's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell's dividend payout ratio (DPR) is currently 36.39%.

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.