Scientech Research LLC Acquires New Stake in Hubbell Incorporated (NYSE:HUBB)

Scientech Research LLC bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,337 shares of the industrial products company's stock, valued at approximately $2,316,000. Hubbell accounts for about 0.5% of Scientech Research LLC's portfolio, making the stock its 27th biggest holding.

Several other institutional investors have also recently made changes to their positions in HUBB. UBS Group AG increased its holdings in Hubbell by 52.7% during the 4th quarter. UBS Group AG now owns 46,749 shares of the industrial products company's stock worth $15,377,000 after acquiring an additional 16,133 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Hubbell by 18.3% during the fourth quarter. Corient Private Wealth LLC now owns 10,076 shares of the industrial products company's stock worth $3,314,000 after purchasing an additional 1,556 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Hubbell by 10.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,502 shares of the industrial products company's stock worth $3,126,000 after purchasing an additional 872 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Hubbell by 8.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 14,618 shares of the industrial products company's stock valued at $4,808,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Hubbell by 132.6% during the fourth quarter. Hsbc Holdings PLC now owns 104,910 shares of the industrial products company's stock valued at $34,484,000 after purchasing an additional 59,816 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Buying and Selling

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 sale, the director now owns 1,670 shares of the company's stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Hubbell Trading Up 0.2 %

HUBB traded up $0.72 during trading on Friday, hitting $428.67. 153,132 shares of the stock traded hands, compared to its average volume of 451,392. The firm has a market capitalization of $23.01 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $433.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The firm has a 50-day moving average of $385.83 and a 200 day moving average of $389.69.

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 analysts' consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business posted $4.07 earnings per share. Hubbell's revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors 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 dividend on an annualized basis and a dividend yield of 1.14%. Hubbell's dividend payout ratio is presently 36.39%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HUBB. Stephens restated an "overweight" rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Morgan Stanley assumed coverage on Hubbell in a research report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target 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. Finally, Barclays cut their price objective on shares of Hubbell from $384.00 to $368.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $404.88.

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.