Otter Creek Advisors LLC Has $4.15 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Otter Creek Advisors LLC boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 144.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,344 shares of the industrial products company’s stock after buying an additional 6,709 shares during the period. Hubbell makes up about 2.7% of Otter Creek Advisors LLC’s holdings, making the stock its 19th biggest position. Otter Creek Advisors LLC’s holdings in Hubbell were worth $4,146,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of Hubbell by 4.1% during the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after purchasing an additional 6,275 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Hubbell during the fourth quarter worth $1,258,000. Focus Financial Network Inc. ADV bought a new position in Hubbell during the fourth quarter valued at about $636,000. TD Asset Management Inc lifted its position in shares of Hubbell by 343.8% in the fourth quarter. TD Asset Management Inc now owns 43,785 shares of the industrial products company’s stock worth $14,402,000 after buying an additional 33,920 shares during the last quarter. Finally, IFG Advisory LLC bought a new stake in shares of Hubbell during the 2nd quarter worth about $475,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HUBB shares. Morgan Stanley began coverage on Hubbell in a research note on Friday. They issued an “equal weight” rating and a $407.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays decreased their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the stock from $431.00 to $441.00 in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and a consensus target price of $404.88.

Hubbell Stock Performance

NYSE HUBB opened at $370.93 on Friday. The company’s fifty day moving average is $375.57 and its two-hundred day moving average is $386.35. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.07 earnings per share. Equities research analysts forecast that Hubbell Incorporated will post 16.39 EPS for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.32%. Hubbell’s payout ratio is 36.39%.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The stock was 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 directly owns 66,415 shares in the company, valued at $24,861,791.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by company 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.