Envestnet Asset Management Inc. Has $25.48 Million Holdings in Hubbell Inc (NYSE:HUBB)

Envestnet Asset Management Inc. lowered its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,994 shares of the industrial products company's stock after selling 3,357 shares during the quarter. Envestnet Asset Management Inc. owned about 0.14% of Hubbell worth $25,478,000 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. Creative Financial Designs Inc. ADV boosted its stake in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after buying an additional 30 shares in the last quarter. Tsfg LLC bought a new position in shares of Hubbell in the first quarter valued at about $30,000. Johnson Financial Group Inc. raised its holdings in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after buying an additional 65 shares during the last quarter. CX Institutional bought a new stake in Hubbell during the 1st quarter worth about $49,000. Finally, NBC Securities Inc. bought a new stake in Hubbell during the 1st quarter worth about $49,000. Institutional investors own 88.16% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on HUBB. JPMorgan Chase & Co. upped 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 increased their target price on Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Wells Fargo & Company set a $420.00 price target on Hubbell and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $456.25.

Hubbell Stock Performance

HUBB stock traded down $4.26 during trading hours on Friday, hitting $432.97. 55,562 shares of the stock were exchanged, compared to its average volume of 637,240. 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 firm has a market capitalization of $23.11 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.46 and a beta of 0.99. The company has a 50-day simple moving average of $398.31 and a two-hundred day simple moving average of $383.07. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted 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 return on equity of 27.68% and a net margin of 14.29%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business earned $3.60 EPS. The firm's quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's payout ratio is currently 35.72%.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 82,101 shares of the company's stock, valued at $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carlos M. Cardoso sold 400 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 1,727 shares in the company, 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 company 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.