Hubbell Inc (NYSE:HUBB) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 19,400 shares of the industrial products company's stock after selling 1,500 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Hubbell were worth $6,420,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of HUBB. 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 valued at $27,000 after acquiring an additional 30 shares during the last quarter. Johnson Financial Group Inc. grew its holdings in Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 65 shares during the last quarter. NBC Securities Inc. bought a new position in Hubbell during the 1st quarter valued at about $49,000. CX Institutional bought a new position in Hubbell during the 1st quarter valued at about $49,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after buying an additional 53 shares during the last quarter. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Up 1.9%

Shares of HUBB traded up $7.42 during midday trading on Wednesday, reaching $398.64. 604,472 shares of the stock were exchanged, compared to its average volume of 537,840. Hubbell Inc has a 52 week low of $299.43 and a 52 week high of $481.35. 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's 50 day moving average is $372.16 and its two-hundred day moving average is $387.72. The company has a market capitalization of $21.28 billion, a P/E ratio of 26.97, a PEG ratio of 1.37 and a beta of 0.99.

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 (EPS) for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the company posted $3.60 EPS. Hubbell's quarterly revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

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

Analysts Set New Price Targets

HUBB has been the topic of several research analyst reports. Barclays upped their price objective on Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Six research 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.com, Hubbell has a consensus rating of "Hold" and a consensus price target of $459.25.

Insider Activity

In other news, 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 value of $2,970,497.49. Following the sale, the chief executive officer now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

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.