Hubbell Inc (NYSE:HUBB) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,446,757 shares of the industrial products company's stock after selling 63,673 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.70% of Hubbell worth $478,746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. HighTower Advisors LLC grew its position in Hubbell by 7.0% during the fourth quarter. HighTower Advisors LLC now owns 29,235 shares of the industrial products company's stock valued at $12,246,000 after buying an additional 1,910 shares during the period. Natixis Advisors LLC grew its position in Hubbell by 8.9% during the fourth quarter. Natixis Advisors LLC now owns 24,450 shares of the industrial products company's stock valued at $10,242,000 after buying an additional 2,005 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Hubbell by 2.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,348 shares of the industrial products company's stock valued at $984,000 after buying an additional 63 shares during the period. Glenview Trust co grew its position in Hubbell by 10.3% during the fourth quarter. Glenview Trust co now owns 11,204 shares of the industrial products company's stock valued at $4,693,000 after buying an additional 1,050 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Transactions at Hubbell

In other Hubbell news, 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 transaction, the director directly owned 1,727 shares of the company's stock, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction dated 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 transaction, the chief executive officer directly owned 82,101 shares in the company, valued at $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

HUBB has been the topic of several recent analyst reports. Wells Fargo & Company set a $420.00 price objective on shares of Hubbell and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Barclays increased their price objective on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $456.25.

Hubbell Stock Performance

NYSE:HUBB opened at $415.46 on Tuesday. The company's 50-day moving average price is $392.77 and its 200-day moving average price is $382.53. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. The company has a market cap of $22.17 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.47 and a beta of 0.99. Hubbell Inc has a twelve month low of $299.43 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.60 earnings per share. On average, sell-side analysts forecast 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. Shareholders of record on Friday, May 30th were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Friday, May 30th. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

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.

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