Cadinha & Co. LLC Sells 43,005 Shares of Hubbell Incorporated (NYSE:HUBB)

Cadinha & Co. LLC lessened its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 93.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,929 shares of the industrial products company's stock after selling 43,005 shares during the quarter. Cadinha & Co. LLC's holdings in Hubbell were worth $969,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC raised its stake in Hubbell by 17.7% in the 4th quarter. Flagship Harbor Advisors LLC now owns 693 shares of the industrial products company's stock valued at $290,000 after acquiring an additional 104 shares during the period. Blue Trust Inc. raised its stake in Hubbell by 37.8% in the 4th quarter. Blue Trust Inc. now owns 714 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 196 shares during the period. KBC Group NV raised its stake in Hubbell by 4.0% in the 4th quarter. KBC Group NV now owns 10,716 shares of the industrial products company's stock valued at $4,489,000 after acquiring an additional 412 shares during the period. Pacer Advisors Inc. raised its stake in Hubbell by 43.6% in the 4th quarter. Pacer Advisors Inc. now owns 5,736 shares of the industrial products company's stock valued at $2,403,000 after acquiring an additional 1,741 shares during the period. Finally, OLD National Bancorp IN raised its stake in Hubbell by 12.6% in the 4th quarter. OLD National Bancorp IN now owns 671 shares of the industrial products company's stock valued at $281,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HUBB shares. JPMorgan Chase & Co. increased their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays reduced their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $457.50.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the firm'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 value of $2,970,497.49. Following the completion of the transaction, the chief executive officer now owns 82,101 shares in the company, valued at $31,578,507.63. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the firm'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 completion of the transaction, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

Hubbell Price Performance

Shares of Hubbell stock traded down $6.81 during trading on Friday, hitting $390.13. 1,127,934 shares of the stock traded hands, compared to its average volume of 541,699. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 1.34 and a beta of 0.97. The firm's fifty day moving average is $357.11 and its 200-day moving average is $392.98. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results 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). The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.60 earnings per share. Research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's dividend payout ratio is presently 35.72%.

Hubbell announced that its board has approved a share buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Hubbell Company 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.