Hubbell Inc (NYSE:HUBB) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 919,156 shares of the industrial products company's stock after selling 104,964 shares during the quarter. Hubbell accounts for about 1.8% of Impax Asset Management Group plc's holdings, making the stock its 13th biggest holding. Impax Asset Management Group plc owned about 1.71% of Hubbell worth $303,400,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its stake in Hubbell by 5.3% in the first quarter. OneDigital Investment Advisors LLC now owns 3,750 shares of the industrial products company's stock worth $1,241,000 after acquiring an additional 188 shares during the last quarter. Calamos Advisors LLC lifted its stake in Hubbell by 1.1% in the first quarter. Calamos Advisors LLC now owns 8,617 shares of the industrial products company's stock worth $2,851,000 after acquiring an additional 96 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in Hubbell by 6.9% in the first quarter. Checchi Capital Advisers LLC now owns 881 shares of the industrial products company's stock worth $292,000 after acquiring an additional 57 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Hubbell by 1,462.9% in the first quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock worth $2,596,000 after acquiring an additional 7,344 shares during the last quarter. Finally, Revisor Wealth Management LLC purchased a new stake in shares of Hubbell during the 1st quarter worth approximately $250,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on HUBB. Barclays upped their target price on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a 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. Wells Fargo & Company set a $420.00 target price on shares of Hubbell and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. upped their target price 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and a consensus price target of $455.50.

Hubbell Stock Performance

HUBB stock traded down $2.14 on Monday, hitting $412.70. The company's stock had a trading volume of 526,067 shares, compared to its average volume of 532,995. The firm has a 50 day moving average of $387.73 and a two-hundred day moving average of $382.86. Hubbell Inc has a 1 year low of $299.43 and a 1 year high of $481.35. The stock has a market cap of $22.03 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 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 business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter last year, the company earned $3.60 EPS. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given 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 yield of 1.28%. Hubbell's payout ratio is currently 35.72%.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction on 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 owned 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the company's 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 owned 1,727 shares of the company's stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate 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.