Hubbell Inc (NYSE:HUBB) Stock Position Reduced by IFM Investors Pty Ltd

IFM Investors Pty Ltd lessened its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,231 shares of the industrial products company's stock after selling 608 shares during the period. IFM Investors Pty Ltd's holdings in Hubbell were worth $3,716,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after purchasing an additional 30 shares during the last quarter. Tsfg LLC bought a new stake in shares of Hubbell in the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. lifted its holdings in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Hubbell in the 1st quarter worth approximately $49,000. Finally, CX Institutional bought a new stake in shares of Hubbell in the 1st quarter worth approximately $49,000. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Down 0.1%

HUBB opened at $414.82 on Monday. Hubbell Inc has a 12 month low of $299.43 and a 12 month high of $481.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73. The stock has a market cap of $22.14 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.45 and a beta of 0.99. The stock's 50 day moving average price is $386.64 and its 200 day moving average price is $383.25.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted $3.60 earnings per share. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction on Wednesday, May 21st. The stock was 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 in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 82,101 shares in the company, valued at approximately $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 currently owned by company insiders.

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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