Susquehanna Fundamental Investments LLC Increases Stake in Hubbell Incorporated (NYSE:HUBB)

Susquehanna Fundamental Investments LLC raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 1,221.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,138 shares of the industrial products company's stock after purchasing an additional 19,538 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in Hubbell were worth $7,726,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nvwm LLC purchased a new stake in shares of Hubbell in the first quarter worth about $25,000. Riverview Trust Co bought a new position in shares of Hubbell in the first quarter worth approximately $52,000. Northwest Investment Counselors LLC bought a new position in shares of Hubbell in the first quarter worth approximately $56,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell in the second quarter worth approximately $62,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company's stock worth $67,000 after purchasing an additional 35 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Up 0.1 %

Shares of HUBB traded up $0.53 during trading hours on Friday, hitting $428.48. The company had a trading volume of 299,122 shares, compared to its average volume of 452,173. The firm has a fifty day moving average price of $387.00 and a 200-day moving average price of $389.92. 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 stock has a market capitalization of $23.00 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $433.03.

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 for the quarter, topping 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 earned $4.07 EPS. Hubbell's revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Friday, August 30th were paid 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%.

Analyst Ratings Changes

Several research firms recently weighed in on HUBB. Morgan Stanley began coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 price objective on the stock. Wells Fargo & Company increased their price target 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. Barclays reduced their price target on shares of 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 target for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Stephens reiterated an "overweight" rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $404.88.

Insider Activity at Hubbell

In related news, 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 completion of the transaction, 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 filing with the SEC, which is available at this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company'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 transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the company'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 of the company's stock, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

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.