Here is Why Hubbell Incorporated (HUBB) Outperformed in Q3
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TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in Consumer Discretionary, Energy, Financials, Industrials, Information Technology, and Materials sectors contributed to the performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare Capital highlighted stocks like Hubbell Incorporated (NYSE:HUBB) in the Q3 2022 investor letter. Headquartered in Shelton, Connecticut, Hubbell Incorporated (NYSE:HUBB) is an electric and electronic goods manufacturer. On December 23, 2022, Hubbell Incorporated (NYSE:HUBB) stock closed at $235.72 per share. One-month return of Hubbell Incorporated (NYSE:HUBB) was -8.82% and its shares gained 15.32% of their value over the last 52 weeks. Hubbell Incorporated (NYSE:HUBB) has a market capitalization of $12.66 billion.
TimesSquare Capital made the following comment about Hubbell Incorporated (NYSE:HUBB) in its Q3 2022 investor letter:
"Hubbell Incorporated (NYSE:HUBB), a designer and manufacturer of electronic products, climbed 26%. Ongoing capital expenditures by its electrical utility customers resulted in sizable beats to revenue and earnings projections. A substantial backlog led management to raise forward guidance."
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Hubbell Incorporated (NYSE:HUBB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Hubbell Incorporated (NYSE:HUBB) at the end of the third quarter, which was 20 in the previous quarter.
We discussed Hubbell Incorporated (NYSE:HUBB) in another article and shared companies that are gaining value. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.