Wahed Invest LLC Grows Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Wahed Invest LLC grew its holdings in Hubbell Incorporated (NYSE:HUBB) by 14.8% during the 1st quarter, Holdings Channel reports. The fund owned 1,049 shares of the industrial products company’s stock after purchasing an additional 135 shares during the period. Wahed Invest LLC’s holdings in Hubbell were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in HUBB. Plato Investment Management Ltd acquired a new position in shares of Hubbell in the 1st quarter valued at $552,000. Tidal Investments LLC raised its position in Hubbell by 499.3% during the first quarter. Tidal Investments LLC now owns 4,992 shares of the industrial products company’s stock worth $2,072,000 after acquiring an additional 4,159 shares during the period. Meiji Yasuda Life Insurance Co acquired a new stake in shares of Hubbell in the first quarter valued at about $950,000. Interval Partners LP raised its position in shares of Hubbell by 222.4% in the first quarter. Interval Partners LP now owns 63,077 shares of the industrial products company’s stock valued at $26,180,000 after buying an additional 43,511 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Hubbell by 6.5% in the first quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock valued at $2,731,000 after buying an additional 403 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Trading Down 3.5 %

Shares of HUBB traded down $13.42 during mid-day trading on Friday, reaching $366.35. The stock had a trading volume of 599,728 shares, compared to its average volume of 469,013. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.03. The firm has a market cap of $19.67 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.46 and a beta of 0.90. The business’s fifty day moving average is $377.58 and its 200 day moving average is $380.10. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61.

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, topping the consensus estimate of $4.24 by $0.13. The company 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%. Hubbell’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.07 earnings per share. On average, sell-side analysts predict that Hubbell Incorporated will post 16.36 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.33%. Hubbell’s dividend payout ratio is presently 36.39%.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the sale, the insider now owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the sale, the insider now owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the sale, the insider now directly owns 4,234 shares in the company, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,055 shares of company stock valued at $1,232,139. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HUBB has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday. Wells Fargo & Company increased their target price on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Barclays reduced their target price on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $402.57.

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.