NumerixS Investment Technologies Inc Buys 500 Shares of Hubbell Incorporated (NYSE:HUBB)

NumerixS Investment Technologies Inc boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 62.5% in the second quarter, Holdings Channel reports. The institutional investor owned 1,300 shares of the industrial products company’s stock after purchasing an additional 500 shares during the period. NumerixS Investment Technologies Inc’s holdings in Hubbell were worth $170,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Hubbell by 6.8% in the 2nd quarter. BlackRock Inc. now owns 6,341,754 shares of the industrial products company’s stock worth $826,962,000 after buying an additional 401,473 shares during the last quarter. American Century Companies Inc. lifted its position in Hubbell by 3.6% during the first quarter. American Century Companies Inc. now owns 4,625,574 shares of the industrial products company’s stock valued at $545,725,000 after purchasing an additional 161,847 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Hubbell by 1.6% during the second quarter. JPMorgan Chase & Co. now owns 1,065,304 shares of the industrial products company’s stock valued at $136,828,000 after purchasing an additional 17,257 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Hubbell by 29.4% during the second quarter. Bank of New York Mellon Corp now owns 1,002,921 shares of the industrial products company’s stock valued at $130,781,000 after purchasing an additional 227,905 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Hubbell by 71.2% during the second quarter. Schroder Investment Management Group now owns 745,429 shares of the industrial products company’s stock valued at $97,204,000 after purchasing an additional 309,991 shares in the last quarter. 85.88% of the stock is owned by institutional investors.

HUBB has been the topic of several analyst reports. Zacks Investment Research upgraded Hubbell from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Morgan Stanley set a $138.00 target price on Hubbell and gave the company a “hold” rating in a research report on Wednesday, July 31st. G.Research reiterated a “buy” rating on shares of Hubbell in a research report on Wednesday, August 21st. Stephens initiated coverage on Hubbell in a research report on Monday, July 8th. They set an “overweight” rating and a $140.00 target price on the stock. Finally, Gabelli initiated coverage on Hubbell in a research report on Wednesday, August 21st. They set a “buy” rating and a $160.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $144.33.

In related news, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $125.77 per share, for a total transaction of $62,885.00. Following the completion of the transaction, the director now owns 7,578 shares in the company, valued at approximately $953,085.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin Arthur Poyck sold 1,828 shares of Hubbell stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $127.66, for a total value of $233,362.48. Following the completion of the transaction, the insider now owns 19,822 shares of the company’s stock, valued at approximately $2,530,476.52. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

NYSE:HUBB traded up $1.35 on Friday, reaching $132.76. 70,887 shares of the company’s stock traded hands, compared to its average volume of 243,147. The company has a quick ratio of 1.22, a current ratio of 1.98 and a debt-to-equity ratio of 0.93. The stock has a 50-day simple moving average of $129.13 and a 200-day simple moving average of $124.74. The firm has a market cap of $7.29 billion, a PE ratio of 18.21, a P/E/G ratio of 1.78 and a beta of 1.47. Hubbell Incorporated has a 12 month low of $91.88 and a 12 month high of $137.97.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.16. Hubbell had a return on equity of 23.63% and a net margin of 8.03%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Hubbell Incorporated will post 8.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.84 dividend. The ex-dividend date was Thursday, August 29th. This represents a $3.36 annualized dividend and a dividend yield of 2.53%. Hubbell’s dividend payout ratio (DPR) is 46.09%.

Hubbell Profile

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.

See Also: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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