Hubbell Inc (NYSE:HUBB) Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reduced its stake in Hubbell Inc by 11.8%, now owning approximately 1,266,141 shares valued at $418.98 million.
• Equity analysts have recently upgraded their price targets for Hubbell, with Barclays setting a new target of $431 and Wells Fargo increasing theirs to $445.
• Hubbell declared a quarterly dividend of $1.32 per share, representing an annualized yield of 1.3%, with a payout ratio of 34.29%.

JPMorgan Chase & Co. lessened its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,266,141 shares of the industrial products company's stock after selling 168,775 shares during the period. JPMorgan Chase & Co. owned 2.36% of Hubbell worth $418,979,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HUBB. Sterling Capital Management LLC increased its stake in Hubbell by 55.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,174 shares of the industrial products company's stock worth $1,330,000 after buying an additional 1,132 shares during the period. Townsquare Capital LLC purchased a new position in shares of Hubbell in the 4th quarter valued at $1,128,000. SageView Advisory Group LLC purchased a new position in shares of Hubbell in the 4th quarter valued at $341,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Hubbell in the 4th quarter valued at $3,085,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Hubbell in the 4th quarter valued at $1,203,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Shares of HUBB stock traded down $10.22 during mid-day trading on Friday, hitting $427.45. The stock had a trading volume of 510,464 shares, compared to its average volume of 611,598. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The firm has a market cap of $22.71 billion, a PE ratio of 27.76, a PEG ratio of 2.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The company's 50-day simple moving average is $416.13 and its 200-day simple moving average is $382.80.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th. Hubbell's dividend payout ratio (DPR) is 34.29%.

Insider Activity at Hubbell

In other 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 owned 1,727 shares in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

HUBB has been the subject of a number of recent research reports. Barclays increased their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company increased their price target on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $462.29.

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.