Handelsbanken Fonder AB Sells 40,435 Shares of Hubbell Inc (NYSE:HUBB)

Handelsbanken Fonder AB reduced its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 75.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,423 shares of the industrial products company's stock after selling 40,435 shares during the quarter. Handelsbanken Fonder AB's holdings in Hubbell were worth $4,442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company's stock worth $2,779,212,000 after acquiring an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock valued at $1,183,920,000 after acquiring an additional 129,490 shares during the period. Massachusetts Financial Services Co. MA increased its position in Hubbell by 6.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock worth $632,704,000 after buying an additional 92,954 shares during the period. Invesco Ltd. increased its position in Hubbell by 1.9% during the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock worth $624,347,000 after buying an additional 27,914 shares during the period. Finally, Geode Capital Management LLC increased its position in Hubbell by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock worth $536,641,000 after buying an additional 29,601 shares during the period. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Down 0.2%

HUBB stock traded down $0.76 during mid-day trading on Tuesday, reaching $391.13. The company's stock had a trading volume of 541,069 shares, compared to its average volume of 537,273. The company has a market cap of $20.87 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The business's 50 day moving average price is $371.24 and its 200 day moving average price is $387.64. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. Hubbell Inc has a 12 month low of $299.43 and a 12 month high of $481.35.

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

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $1.32 per share. The ex-dividend date was Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. Hubbell's payout ratio is 35.72%.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the transaction, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.