Daymark Wealth Partners LLC Grows Position in Hubbell Incorporated (NYSE:HUBB)

Daymark Wealth Partners LLC increased its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 276.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,260 shares of the industrial products company's stock after purchasing an additional 1,660 shares during the quarter. Daymark Wealth Partners LLC's holdings in Hubbell were worth $826,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. APG Asset Management N.V. grew its stake in Hubbell by 260.0% in the 2nd quarter. APG Asset Management N.V. now owns 5,400 shares of the industrial products company's stock valued at $1,841,000 after purchasing an additional 3,900 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Hubbell in the 2nd quarter worth about $294,000. Squarepoint Ops LLC boosted its holdings in shares of Hubbell by 1,054.3% in the 2nd quarter. Squarepoint Ops LLC now owns 16,784 shares of the industrial products company's stock worth $6,134,000 after buying an additional 15,330 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Hubbell by 60.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,271 shares of the industrial products company's stock valued at $3,754,000 after buying an additional 3,869 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Hubbell during the 2nd quarter worth approximately $9,288,000. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HUBB shares. Stephens reissued an "overweight" rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on Hubbell from $397.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and increased their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Barclays reduced 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 note 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $404.88.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Carlos M. Cardoso sold 450 shares of the firm'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 transaction, the director now directly 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 SEC, which is accessible through 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 value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Hubbell stock traded up $0.53 during midday trading on Friday, reaching $428.48. 299,122 shares of the stock were exchanged, compared to its average volume of 452,173. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $433.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The firm has a market cap of $23.00 billion, a PE ratio of 31.95, a PEG ratio of 1.56 and a beta of 0.90. The company's fifty day moving average is $387.00 and its 200-day moving average is $389.97.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.13. The firm 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 business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.07 EPS. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given 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 (DPR) 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.