nVerses Capital LLC Purchases New Stake in Hubbell Incorporated (NYSE:HUBB)

nVerses Capital LLC purchased a new position in Hubbell Incorporated (NYSE:HUBB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,500 shares of the industrial products company’s stock, valued at approximately $1,071,000. Hubbell comprises about 0.5% of nVerses Capital LLC’s portfolio, making the stock its 18th largest position.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after acquiring an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after purchasing an additional 286,134 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after purchasing an additional 46,813 shares during the period. Impax Asset Management Group plc lifted its position in shares of Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after purchasing an additional 322,728 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Hubbell by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock valued at $137,622,000 after purchasing an additional 22,951 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

HUBB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of 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 report on Friday, September 6th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Barclays upped their target price on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $428.13.

Insider Buying and Selling at Hubbell

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 value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s 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 owns 66,415 shares in the company, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB traded up $0.91 during mid-day trading on Thursday, hitting $454.97. 60,976 shares of the company traded hands, compared to its average volume of 443,675. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $461.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The stock has a 50-day moving average price of $405.45 and a two-hundred day moving average price of $392.93. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 13.14% and a return on equity of 28.98%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.07 EPS. Equities analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.07%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Hubbell 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.