Exchange Traded Concepts LLC Buys 2,757 Shares of Hubbell Incorporated (NYSE:HUBB)

Exchange Traded Concepts LLC boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 66.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,891 shares of the industrial products company's stock after purchasing an additional 2,757 shares during the period. Exchange Traded Concepts LLC's holdings in Hubbell were worth $2,952,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HUBB. Nordea Investment Management AB grew its stake in shares of Hubbell by 4.1% during the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company's stock valued at $66,571,000 after purchasing an additional 6,275 shares during the last quarter. IFG Advisory LLC acquired a new position in shares of Hubbell during the second quarter valued at $475,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Hubbell by 81.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company's stock valued at $22,565,000 after acquiring an additional 24,321 shares during the period. New Mexico Educational Retirement Board increased its position in Hubbell by 304.6% in the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company's stock worth $4,685,000 after purchasing an additional 8,497 shares during the period. Finally, Sustainable Insight Capital Management LLC bought a new stake in Hubbell during the 1st quarter worth about $1,868,000. Institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HUBB shares. Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an "equal weight" rating and a $407.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Hubbell from $400.00 to $445.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Barclays upped their target price on shares of Hubbell from $368.00 to $400.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 2nd. Stephens restated an "overweight" rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. downgraded Hubbell from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $423.13.

Hubbell Trading Down 2.0 %

NYSE:HUBB traded down $9.11 on Tuesday, reaching $451.39. The company's stock had a trading volume of 382,773 shares, compared to its average volume of 446,252. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.77. The business's 50-day moving average price is $403.55 and its two-hundred day moving average price is $392.50. The firm has a market cap of $24.23 billion, a PE ratio of 33.66, a PEG ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. Hubbell's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.07 EPS. Equities research analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business 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 of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.08%. Hubbell's dividend payout ratio is currently 36.39%.

Insider Buying and Selling

In other news, Director Carlos M. Cardoso sold 450 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 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 directly owns 1,670 shares of the company's stock, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the business'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 completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

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.