OLD Republic International Corp Sells 21,000 Shares of Hubbell Inc (NYSE:HUBB)

OLD Republic International Corp trimmed its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 14.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,000 shares of the industrial products company's stock after selling 21,000 shares during the quarter. OLD Republic International Corp owned approximately 0.24% of Hubbell worth $42,026,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Huntington National Bank grew its stake in Hubbell by 3.0% during the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock valued at $371,000 after acquiring an additional 26 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Hubbell by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after acquiring an additional 26 shares during the period. Mindset Wealth Management LLC increased its position in Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock worth $693,000 after acquiring an additional 27 shares during the period. Creative Financial Designs Inc. ADV increased its position 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 worth $27,000 after acquiring an additional 30 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Hubbell by 25.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 38 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction that occurred 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 sale, the director owned 1,727 shares in the company, valued at approximately $667,122.83. The trade was a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 82,101 shares in the company, valued at $31,578,507.63. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays upped their price target on Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company set a $420.00 price target on Hubbell and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Hubbell currently has a consensus rating of "Hold" and a consensus price target of $455.50.

Hubbell Trading Down 0.2%

HUBB traded down $0.80 during midday trading on Tuesday, reaching $412.17. 67,723 shares of the company were exchanged, compared to its average volume of 531,186. Hubbell Inc has a one year low of $299.43 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. The stock has a market capitalization of $22.00 billion, a P/E ratio of 27.80, a PEG ratio of 1.45 and a beta of 0.99. The stock's 50-day simple moving average is $387.73 and its 200 day simple moving average is $382.86.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data 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). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm earned $3.60 EPS. The company's revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, May 30th. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

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.