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Should You Buy UIL Holdings Corporation (UIL)?

What’s a smart UIL Holdings Corporation (NYSE:UIL) investor to do?

In the financial world, there are plenty of indicators market participants can use to monitor Mr. Market. A duo of the most innovative are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top hedge fund managers can beat the S&P 500 by a significant margin (see just how much).

Just as crucial, positive insider trading activity is another way to look at the investments you’re interested in. As the old adage goes: there are lots of incentives for an upper level exec to get rid of shares of his or her company, but just one, very obvious reason why they would buy. Many academic studies have demonstrated the valuable potential of this strategy if shareholders understand where to look (learn more here).

Now that that’s out of the way, we’re going to study the newest info for UIL Holdings Corporation (NYSE:UIL).

UIL Holdings Corporation (NYSE:UIL)

Hedge fund activity in UIL Holdings Corporation (NYSE:UIL)

In preparation for the third quarter, a total of 10 of the hedge funds we track were bullish in this stock, a change of 100% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes considerably.

When using filings from the hedgies we track, Millennium Management, managed by Israel Englander, holds the biggest position in UIL Holdings Corporation (NYSE:UIL). Millennium Management has a $4.3 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is John A. Levin of Levin Capital Strategies, with a $1.7 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Other hedgies that are bullish include Charles Davidson’s Wexford Capital, Matthew Tewksbury’s Stevens Capital Management and Cliff Asness’s AQR Capital Management.

Consequently, specific money managers have jumped into UIL Holdings Corporation (NYSE:UIL) headfirst. Millennium Management, managed by Israel Englander, initiated the most outsized position in UIL Holdings Corporation (NYSE:UIL). Millennium Management had 4.3 million invested in the company at the end of the quarter. John A. Levin’s Levin Capital Strategies also made a $1.7 million investment in the stock during the quarter. The other funds with brand new UIL positions are Charles Davidson’s Wexford Capital, Matthew Tewksbury’s Stevens Capital Management, and Cliff Asness’s AQR Capital Management.

Insider trading activity in UIL Holdings Corporation (NYSE:UIL)

Insider buying made by high-level executives is at its handiest when the company we’re looking at has experienced transactions within the past 180 days. Over the latest half-year time period, UIL Holdings Corporation (NYSE:UIL) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll also review the relationship between both of these indicators in other stocks similar to UIL Holdings Corporation (NYSE:UIL). These stocks are IDACORP Inc (NYSE:IDA), Atlantic Power Corp (NYSE:AT), Portland General Electric Company (NYSE:POR), Black Hills Corp (NYSE:BKH), and UNS Energy Corp (NYSE:UNS). This group of stocks belong to the electric utilities industry and their market caps resemble UIL’s market cap.

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