Fiera Capital Corp Sells 1,183 Shares of Hubbell Inc (NYSE:HUBB)

Key Points

• Fiera Capital Corp reduced its holdings in Hubbell Inc by 0.9%, now owning 123,626 shares valued at approximately $40.9 million.
• Hubbell's recent quarterly earnings missed analysts' expectations, reporting $3.50 EPS against a consensus estimate of $3.73, alongside a revenue decline of 2.4% year-over-year.
• The firm announced a quarterly dividend of $1.32 per share, with a 1.21% yield and a payout ratio of 35.72%.

Fiera Capital Corp trimmed its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,626 shares of the industrial products company's stock after selling 1,183 shares during the quarter. Fiera Capital Corp owned approximately 0.23% of Hubbell worth $40,909,000 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 company. Valley Wealth Managers Inc. increased its stake in shares of Hubbell by 1.7% in the first quarter. Valley Wealth Managers Inc. now owns 57,173 shares of the industrial products company's stock valued at $18,919,000 after buying an additional 980 shares in the last quarter. FourThought Financial Partners LLC grew its stake in shares of Hubbell by 2.2% during the first quarter. FourThought Financial Partners LLC now owns 4,561 shares of the industrial products company's stock valued at $1,509,000 after purchasing an additional 99 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Hubbell by 49.0% during the first quarter. HB Wealth Management LLC now owns 1,171 shares of the industrial products company's stock valued at $387,000 after purchasing an additional 385 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Hubbell by 12.0% during the first quarter. Avantax Advisory Services Inc. now owns 2,649 shares of the industrial products company's stock valued at $877,000 after purchasing an additional 283 shares during the last quarter. Finally, Hamilton Point Investment Advisors LLC lifted its holdings in Hubbell by 0.4% during the 1st quarter. Hamilton Point Investment Advisors LLC now owns 20,272 shares of the industrial products company's stock worth $6,708,000 after buying an additional 71 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the firm'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 completion of the sale, the director directly owned 1,727 shares in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction 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 owned 82,101 shares of the company's stock, valued at $31,578,507.63. The trade was a 8.60% 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday. JPMorgan Chase & Co. lifted 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 cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Barclays lifted their price target on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research note on Friday. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Hubbell has an average rating of "Hold" and an average price target of $460.75.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $13.26 on Friday, reaching $424.22. 438,394 shares of the company's stock were exchanged, compared to its average volume of 645,576. The company has a fifty day moving average of $408.27 and a 200-day moving average of $383.52. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 2.44 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 0.73 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. On average, research analysts predict 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 will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell's dividend payout ratio (DPR) is presently 34.29%.

Hubbell 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.