Hubbell Inc (NYSE:HUBB) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC decreased its holdings in Hubbell Inc (NYSE:HUBB) by 7.6%, selling 1,867 shares during the first quarter, leaving them with 22,583 shares valued at approximately $7.47 million.
• Several large investors significantly increased their positions in Hubbell, including Marshall Wace LLP with a 418.1% increase, now holding 307,050 shares valued at about $128.62 million.
• Hubbell announced a quarterly dividend of $1.32 per share payable on September 15th, resulting in an annualized dividend yield of 1.2% for shareholders.

Natixis Advisors LLC cut its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,583 shares of the industrial products company's stock after selling 1,867 shares during the period. Natixis Advisors LLC's holdings in Hubbell were worth $7,473,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Marshall Wace LLP increased its position in shares of Hubbell by 418.1% in the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock valued at $128,620,000 after acquiring an additional 247,786 shares during the period. Bain Capital Public Equity Management II LLC acquired a new position in shares of Hubbell in the 4th quarter valued at $95,868,000. GAMMA Investing LLC increased its position in shares of Hubbell by 52,429.8% in the 1st quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after acquiring an additional 191,893 shares during the period. PointState Capital LP acquired a new position in shares of Hubbell in the 4th quarter valued at $78,443,000. Finally, Ameriprise Financial Inc. increased its position in shares of Hubbell by 80.1% in the 4th quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company's stock valued at $140,876,000 after acquiring an additional 149,622 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the topic of several analyst reports. Wells Fargo & Company increased their price target on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Barclays increased their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $462.29.

Insider Activity

In other news, Director Carlos M. Cardoso sold 400 shares of the 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 sale, the director directly owned 1,727 shares of the company's stock, valued at $667,122.83. This represents a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the transaction, the chief executive officer directly owned 82,101 shares in the company, valued at $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

Hubbell Trading Up 0.7%

HUBB stock opened at $429.62 on Tuesday. The company's 50-day simple moving average is $408.97 and its 200-day simple moving average is $382.85. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The firm has a market cap of $22.93 billion, a P/E ratio of 27.90, a PEG ratio of 2.39 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. As a group, equities analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

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 dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell's dividend payout ratio is presently 34.29%.

Hubbell 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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