AlphaQuest LLC Grows Position in Hubbell Inc $HUBB

AlphaQuest LLC grew its stake in Hubbell Inc (NYSE:HUBB) by 541.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,862 shares of the industrial products company’s stock after buying an additional 2,416 shares during the quarter. AlphaQuest LLC’s holdings in Hubbell were worth $1,232,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Boston Partners purchased a new stake in shares of Hubbell in the second quarter worth $230,691,000. Mirova US LLC bought a new position in Hubbell in the 2nd quarter worth $139,386,000. Troy Asset Management Ltd purchased a new stake in Hubbell in the 2nd quarter worth $132,540,000. Bain Capital Public Equity Management II LLC bought a new stake in Hubbell during the second quarter valued at about $132,286,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Hubbell by 15.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after acquiring an additional 226,856 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of HUBB stock opened at $488.11 on Monday. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 2.47 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $501.32. The stock has a fifty day simple moving average of $457.30 and a two-hundred day simple moving average of $442.61.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Insider Activity

In other news, Director John F. Malloy purchased 435 shares of the stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $429.24 per share, for a total transaction of $186,719.40. Following the acquisition, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the transaction, the insider owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HUBB shares. Morgan Stanley set a $515.00 target price on Hubbell in a research note on Wednesday, January 7th. UBS Group reaffirmed a “neutral” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, December 12th. Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Saturday. JPMorgan Chase & Co. upped their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Finally, Mizuho lifted their target price on Hubbell from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $497.25.

About Hubbell

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.