Trexquant Investment LP Has $538,000 Position in Hubbell Incorporated (HUBB)
Trexquant Investment LP boosted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 45.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,031 shares of the industrial products company’s stock after acquiring an additional 1,269 shares during the period. Trexquant Investment LP’s holdings in Hubbell were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new stake in Hubbell during the third quarter valued at approximately $149,000. Valeo Financial Advisors LLC lifted its position in Hubbell by 156.4% during the third quarter. Valeo Financial Advisors LLC now owns 1,164 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 710 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Hubbell during the third quarter valued at approximately $183,000. Palo Capital Inc. purchased a new stake in Hubbell during the third quarter valued at approximately $184,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Hubbell during the third quarter valued at approximately $233,000. 86.41% of the stock is owned by institutional investors.
NYSE HUBB opened at $106.29 on Wednesday. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.54 and a beta of 1.37. Hubbell Incorporated has a 12-month low of $97.02 and a 12-month high of $149.03. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.88 and a quick ratio of 1.16.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a $0.84 dividend. The ex-dividend date is Thursday, November 29th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.16%. This is a boost from Hubbell’s previous quarterly dividend of $0.77. Hubbell’s dividend payout ratio (DPR) is currently 56.66%.
In other Hubbell news, Director John F. Malloy bought 994 shares of Hubbell stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $100.82 per share, with a total value of $100,215.08. Following the completion of the acquisition, the director now directly owns 13,020 shares in the company, valued at approximately $1,312,676.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Neal J. Keating bought 1,000 shares of Hubbell stock in a transaction that occurred on Monday, October 29th. The shares were acquired at an average cost of $101.55 per share, with a total value of $101,550.00. Following the acquisition, the director now owns 6,971 shares of the company’s stock, valued at $707,905.05. The disclosure for this purchase can be found here. Company insiders own 0.69% of the company’s stock.
A number of research analysts have issued reports on HUBB shares. ValuEngine raised shares of Hubbell from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Morgan Stanley started coverage on shares of Hubbell in a report on Tuesday, August 21st. They issued an “overweight” rating and a $133.00 price target for the company. Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Wolfe Research raised shares of Hubbell to a “buy” rating and set a $131.00 price target for the company in a report on Wednesday, October 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $137.83.
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Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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