Dark Forest Capital Management LP Has $263,000 Holdings in Hubbell Incorporated (NYSE:HUBB)

Dark Forest Capital Management LP lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 40.2% during the second quarter, Holdings Channel reports. The institutional investor owned 720 shares of the industrial products company’s stock after selling 485 shares during the quarter. Dark Forest Capital Management LP’s holdings in Hubbell were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nvwm LLC bought a new stake in Hubbell in the first quarter valued at about $25,000. Riverview Trust Co bought a new position in shares of Hubbell during the 1st quarter worth approximately $52,000. Northwest Investment Counselors LLC bought a new position in shares of Hubbell during the 1st quarter worth approximately $56,000. Ashton Thomas Private Wealth LLC bought a new stake in Hubbell in the second quarter valued at $62,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and upped their target price for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Morgan Stanley initiated coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note 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. Finally, Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Four research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

Insider Activity

In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Hubbell 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 sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 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 company insiders.

Hubbell Stock Performance

HUBB stock opened at $428.48 on Monday. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $433.03. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The company has a market cap of $23.00 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. The business’s fifty day moving average is $387.00 and its 200-day moving average is $389.92.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.07 earnings per share. Equities research analysts forecast that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The company 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 of this dividend 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 36.39%.

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.