Fort Washington Investment Advisors Inc. OH Sells 14,636 Shares of Hubbell Incorporated (NYSE:HUBB)

Fort Washington Investment Advisors Inc. OH trimmed its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,818 shares of the industrial products company's stock after selling 14,636 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.33% of Hubbell worth $58,842,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Hubbell

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays boosted their price target on Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $459.25.

Hubbell Stock Up 0.5%

Shares of NYSE:HUBB traded up $1.90 during midday trading on Thursday, reaching $390.89. 337,175 shares of the company were exchanged, compared to its average volume of 536,653. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. 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 fifty day simple moving average of $367.69 and a two-hundred day simple moving average of $389.61. The firm has a market cap of $20.86 billion, a PE ratio of 27.22, a P/E/G ratio of 1.34 and a beta of 0.99.

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 analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The company's revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $1.32 dividend. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a yield of 1.35%. Hubbell's payout ratio is currently 35.72%.

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.