Hubbell Incorporated (NYSE:HUBB) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its position in Hubbell Incorporated (NYSE:HUBB) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 7,404 shares of the industrial products company’s stock after buying an additional 575 shares during the quarter. ProShare Advisors LLC’s holdings in Hubbell were worth $2,706,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HUBB. Nvwm LLC acquired a new stake in Hubbell in the 1st quarter valued at about $25,000. Riverview Trust Co bought a new stake in shares of Hubbell in the 1st quarter worth approximately $52,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell during the first quarter valued at approximately $56,000. Ashton Thomas Private Wealth LLC acquired a new stake in Hubbell during the second quarter valued at approximately $62,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings 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 buying an additional 35 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley assumed coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price for the company. Wells Fargo & Company increased their price target on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Barclays cut their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and raised their target price for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $404.88.

Hubbell Price Performance

Shares of HUBB opened at $427.95 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.56 and a beta of 0.90. The business’s 50-day moving average is $385.83 and its 200-day moving average is $389.69. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $433.03.

Hubbell (NYSE:HUBB) last released its quarterly earnings data 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 firm had revenue of $1.45 billion for 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 company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.07 EPS. Equities research analysts expect that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors 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 yield of 1.14%. Hubbell’s payout ratio is 36.39%.

Insider Buying and Selling at Hubbell

In other 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 completion of the sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $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 other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction 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 transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction 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 sale, the chief executive officer now directly 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. Corporate 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.