XTX Topco Ltd Buys New Position in Hubbell Incorporated (NYSE:HUBB)

XTX Topco Ltd bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,222 shares of the industrial products company's stock, valued at approximately $2,639,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nvwm LLC purchased a new stake in Hubbell during the 1st quarter worth $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Hubbell by 1,850.0% in the fourth 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 fourth quarter worth about $40,000. Riverview Trust Co purchased a new position in Hubbell in the first quarter valued at about $52,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Hubbell during the 1st quarter valued at approximately $56,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 owns 66,415 shares of the company's stock, valued at $24,861,791.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Gerben Bakker sold 15,677 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at $24,861,791.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 approximately $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HUBB. Barclays cut their target price on Hubbell from $384.00 to $368.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and increased their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Morgan Stanley started coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 target price for the company. Stephens reaffirmed an "overweight" rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $404.88.

Hubbell Stock Performance

HUBB stock traded up $12.68 during midday trading on Thursday, reaching $422.54. The company had a trading volume of 430,408 shares, compared to its average volume of 454,258. The firm has a market capitalization of $22.68 billion, a PE ratio of 30.56, a P/E/G ratio of 1.44 and a beta of 0.90. The stock has a 50 day moving average price of $380.00 and a 200 day moving average price of $388.15. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week 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.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data 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. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $4.07 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.15%. 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.