First Trust Direct Indexing L.P. Acquires 887 Shares of Hubbell Incorporated (NYSE:HUBB)

First Trust Direct Indexing L.P. raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 76.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,044 shares of the industrial products company’s stock after acquiring an additional 887 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Hubbell were worth $876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Hubbell by 7.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,176 shares of the industrial products company’s stock worth $1,318,000 after purchasing an additional 212 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Hubbell in the first quarter worth about $261,000. Van ECK Associates Corp boosted its position in shares of Hubbell by 6.9% in the first quarter. Van ECK Associates Corp now owns 8,426 shares of the industrial products company’s stock valued at $3,497,000 after acquiring an additional 545 shares during the period. Sequoia Financial Advisors LLC grew its stake in Hubbell by 41.9% during the first quarter. Sequoia Financial Advisors LLC now owns 5,501 shares of the industrial products company’s stock valued at $2,283,000 after acquiring an additional 1,623 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Hubbell by 86.1% during the 1st quarter. Baillie Gifford & Co. now owns 188 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Performance

NYSE HUBB opened at $425.70 on Friday. The company has a 50-day simple moving average of $420.91 and a two-hundred day simple moving average of $395.63. Hubbell Incorporated has a 12-month low of $274.42 and a 12-month high of $461.77. The firm has a market cap of $22.85 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.60 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during 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%. Hubbell’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.95 EPS. On average, equities analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is presently 38.04%.

Analyst Ratings Changes

Several brokerages have commented on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stephens reissued an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $434.38.

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.