DRW Securities LLC Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

DRW Securities LLC acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 481 shares of the industrial products company’s stock, valued at approximately $206,000.

Several other institutional investors have also modified their holdings of HUBB. Lazard Asset Management LLC lifted its stake in Hubbell by 85.3% in the 1st quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock valued at $739,000 after buying an additional 820 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Hubbell by 6.5% during 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 acquiring an additional 403 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Hubbell by 499.3% in the first quarter. Tidal Investments LLC now owns 4,992 shares of the industrial products company’s stock valued at $2,072,000 after acquiring an additional 4,159 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Hubbell in the first quarter worth approximately $552,000. Finally, Wahed Invest LLC increased its position in shares of Hubbell by 14.8% during the first quarter. Wahed Invest LLC now owns 1,049 shares of the industrial products company’s stock worth $435,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HUBB shares. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Mizuho increased their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $449.11.

Hubbell Stock Performance

NYSE:HUBB opened at $458.81 on Thursday. The company’s 50-day moving average is $444.28 and its two-hundred day moving average is $403.47. Hubbell Incorporated has a 1-year low of $293.91 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 1.73 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.95 earnings per share. Analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.15%. Hubbell’s dividend payout ratio is currently 35.16%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

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.