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Chevy Chase Trust Holdings LLC Sells 7,968 Shares of Hubbell Inc (NYSE:HUBB)

Hubbell logo with Industrials background

Chevy Chase Trust Holdings LLC decreased its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,646 shares of the industrial products company's stock after selling 7,968 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Hubbell worth $9,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Hubbell during the first quarter valued at $515,000. Intact Investment Management Inc. acquired a new stake in shares of Hubbell during the 1st quarter worth about $66,000. TT International Asset Management LTD lifted its holdings in Hubbell by 4,718.8% during the 1st quarter. TT International Asset Management LTD now owns 4,096 shares of the industrial products company's stock valued at $1,355,000 after purchasing an additional 4,011 shares during the last quarter. Suncoast Equity Management boosted its position in Hubbell by 16.0% in the first quarter. Suncoast Equity Management now owns 3,105 shares of the industrial products company's stock valued at $1,027,000 after buying an additional 429 shares in the last quarter. Finally, Abundance Wealth Counselors grew its stake in Hubbell by 1.6% during the first quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after buying an additional 41 shares during the last quarter. Institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HUBB. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays raised their target price on Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Finally, Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of "Hold" and an average price target of $459.25.

View Our Latest Stock Analysis on Hubbell

Insider Activity

In related news, CEO Gerben Bakker sold 7,723 shares of the 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director directly owned 1,727 shares in the company, 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. Insiders own 0.76% of the company's stock.

Hubbell Trading Up 0.6%

HUBB traded up $2.47 during mid-day trading on Monday, hitting $409.09. The stock had a trading volume of 395,562 shares, compared to its average volume of 533,684. The stock's fifty day simple moving average is $381.69 and its 200-day simple moving average is $383.58. The firm has a market capitalization of $21.83 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Hubbell Inc has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business posted $3.60 EPS. The business's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Friday, May 30th. Hubbell's dividend payout ratio is currently 35.72%.

Hubbell Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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