Hubbell Inc (NYSE:HUBB) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC trimmed its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 85.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 781 shares of the industrial products company's stock after selling 4,767 shares during the period. Alpine Woods Capital Investors LLC's holdings in Hubbell were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV grew its holdings in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares in the last quarter. Tsfg LLC acquired a new stake in shares of Hubbell during the first quarter valued at about $30,000. Johnson Financial Group Inc. increased its position in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after acquiring an additional 65 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Hubbell in the first quarter worth about $49,000. Finally, CX Institutional acquired a new position in shares of Hubbell in the first quarter worth about $49,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Down 0.7%

Hubbell stock traded down $3.08 during midday trading on Friday, hitting $419.18. The stock had a trading volume of 521,464 shares, compared to its average volume of 536,423. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. The stock has a market cap of $22.37 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.47 and a beta of 0.99. Hubbell Inc has a 12 month low of $299.43 and a 12 month high of $481.35. The business has a fifty day moving average price of $392.77 and a 200 day moving average price of $382.86.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned $3.60 earnings per share. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts predict that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, May 30th. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HUBB shares. Barclays lifted their price objective on Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company set a $420.00 price target on shares of Hubbell and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $456.25.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the transaction, the chief executive officer directly owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the transaction, the director directly owned 1,727 shares of the company's stock, valued at $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

About Hubbell

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.