MQS Management LLC Takes Position in Hubbell Incorporated (NYSE:HUBB)

MQS Management LLC bought a new stake in Hubbell Incorporated (NYSE:HUBB) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 714 shares of the industrial products company’s stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Investment Managers International raised its stake in Hubbell by 65.6% during the first quarter. Natixis Investment Managers International now owns 1,300 shares of the industrial products company’s stock valued at $540,000 after buying an additional 515 shares during the last quarter. InterOcean Capital Group LLC purchased a new position in Hubbell during the first quarter valued at $531,000. UniSuper Management Pty Ltd raised its stake in Hubbell by 394.8% during the first quarter. UniSuper Management Pty Ltd now owns 3,043 shares of the industrial products company’s stock valued at $1,263,000 after buying an additional 2,428 shares during the last quarter. Rockport Wealth LLC purchased a new position in Hubbell during the first quarter valued at $405,000. Finally, Bahl & Gaynor Inc. increased its holdings in shares of Hubbell by 5.3% in the 1st quarter. Bahl & Gaynor Inc. now owns 139,403 shares of the industrial products company’s stock worth $57,859,000 after purchasing an additional 7,072 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE:HUBB traded up $8.44 during mid-day trading on Friday, reaching $363.99. The stock had a trading volume of 21,136 shares, compared to its average volume of 459,065. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. The company has a market cap of $19.54 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.32 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The business’s 50 day moving average price is $379.72 and its 200 day moving average price is $378.31.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm posted $3.61 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts expect that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of research analyst reports. Barclays reduced their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company reduced their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $386.57.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the transaction, the insider now owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the sale, the insider now owns 3,436 shares in the company, valued at $1,379,004.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction on Friday, May 10th. The stock was 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 approximately $1,722,348.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,055 shares of company stock valued at $1,232,139. 0.66% of the stock is currently owned by insiders.

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.