Hubbell Inc (NYSE:HUBB) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,756 shares of the industrial products company's stock after selling 4,355 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Hubbell were worth $8,523,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings 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 buying an additional 65,033 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Hubbell by 6.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock valued at $632,704,000 after acquiring an additional 92,954 shares in the last quarter. Invesco Ltd. raised its stake in shares of Hubbell by 1.9% in the fourth quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock valued at $624,347,000 after acquiring an additional 27,914 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hubbell by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock valued at $536,641,000 after acquiring an additional 29,601 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Hubbell by 16.4% in the fourth quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company's stock valued at $217,032,000 after acquiring an additional 72,913 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 0.3%

HUBB stock opened at $406.58 on Friday. 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 twelve month low of $299.43 and a twelve month high of $481.35. The company's 50 day moving average is $378.73 and its two-hundred day moving average is $385.18. The stock has a market cap of $21.70 billion, a P/E ratio of 27.51, a PEG ratio of 1.42 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. 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 prior year, the business earned $3.60 earnings per share. Hubbell's revenue was down 2.4% compared to the same quarter last year. Research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's dividend payout ratio (DPR) is currently 35.72%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction on 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 transaction, the chief executive officer now directly owns 82,101 shares of the company's stock, valued at $31,578,507.63. The trade was a 8.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction on 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 in the company, valued at $667,122.83. The trade was a 18.81% 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 corporate insiders.

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.

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