Hubbell Incorporated (NYSE:HUBB) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in shares of Hubbell Incorporated (NYSE:HUBB) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,335,218 shares of the industrial products company’s stock after purchasing an additional 46,813 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.49% of Hubbell worth $487,995,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of HUBB. CWM LLC boosted its stake in shares of Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Hubbell by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 30 shares in the last quarter. Detalus Advisors LLC boosted its stake in shares of Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 31 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Hubbell by 23.5% during the 2nd 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. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HUBB shares. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens reaffirmed an “overweight” rating and issued a $450.00 target price 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. raised their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Insider Transactions at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred 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 directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gerben Bakker sold 15,677 shares of the 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 sale, 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 SEC, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the 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 sale, the director now owns 1,670 shares in the company, 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.

Hubbell Price Performance

HUBB opened at $408.82 on Tuesday. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 1.44 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $378.51 and a 200 day moving average price of $387.81.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion for 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%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $4.07 earnings per share. Analysts forecast that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.19%. Hubbell’s payout ratio 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.