Ferguson Wellman Capital Management Inc. Has $776,000 Position in Hubbell Incorporated (NYSE:HUBB)

Ferguson Wellman Capital Management Inc. cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 31.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,345 shares of the industrial products company's stock after selling 1,073 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Hubbell were worth $776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Greenwood Capital Associates LLC lifted its position in Hubbell by 50.8% in the 1st quarter. Greenwood Capital Associates LLC now owns 1,693 shares of the industrial products company's stock worth $560,000 after buying an additional 570 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Hubbell by 6.1% in the first quarter. Fifth Third Bancorp now owns 9,223 shares of the industrial products company's stock worth $3,052,000 after acquiring an additional 531 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Hubbell by 1.0% during the first quarter. Simon Quick Advisors LLC now owns 23,882 shares of the industrial products company's stock worth $7,903,000 after acquiring an additional 232 shares in the last quarter. CX Institutional acquired a new stake in Hubbell during the first quarter valued at $49,000. Finally, Assenagon Asset Management S.A. grew its stake in Hubbell by 1,450.1% in the first quarter. Assenagon Asset Management S.A. now owns 38,581 shares of the industrial products company's stock valued at $12,767,000 after purchasing an additional 36,092 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HUBB shares. Barclays raised their price target on Hubbell from $400.00 to $414.00 and gave the stock an "equal weight" rating in a research note on Monday. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, 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. 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.com, the company currently has an average rating of "Hold" and an average price target of $459.25.

Hubbell Stock Performance

NYSE:HUBB traded down $9.03 during midday trading on Friday, reaching $382.01. The stock had a trading volume of 447,150 shares, compared to its average volume of 536,803. The stock has a market capitalization of $20.39 billion, a P/E ratio of 26.60, a PEG ratio of 1.34 and a beta of 0.99. Hubbell Incorporated 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 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The firm's fifty day simple moving average is $367.69 and its 200-day simple moving average is $389.61.

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). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.60 EPS. On average, equities research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.38%. Hubbell's payout ratio is 35.72%.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction 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 sale, the director now owns 1,727 shares of the company's stock, valued at $667,122.83. The trade was a 18.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were 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 now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.