Johnson Investment Counsel Inc. Cuts Stake in Hubbell Inc (NYSE:HUBB)

Johnson Investment Counsel Inc. decreased its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,779 shares of the industrial products company's stock after selling 828 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.17% of Hubbell worth $31,032,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in Hubbell in the 4th quarter worth approximately $195,218,000. Marshall Wace LLP lifted its position in shares of Hubbell by 418.1% during the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock worth $128,620,000 after purchasing an additional 247,786 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in shares of Hubbell in the fourth quarter valued at $95,868,000. GAMMA Investing LLC boosted its stake in shares of Hubbell by 52,429.8% in the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after purchasing an additional 191,893 shares during the period. Finally, PointState Capital LP acquired a new stake in Hubbell during the 4th quarter valued at $78,443,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction dated 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 now owns 1,727 shares of the company's stock, valued at $667,122.83. This represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays boosted their price target on Hubbell from $400.00 to $414.00 and gave the stock an "equal weight" rating in a research note on Monday, June 9th. Finally, Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $459.25.

Hubbell Stock Up 1.9%

Shares of Hubbell stock opened at $398.64 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $372.16 and a 200 day moving average price of $387.72. Hubbell Inc has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm has a market cap of $21.28 billion, a P/E ratio of 26.97, a P/E/G ratio of 1.37 and a beta of 0.99.

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 for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. Hubbell's revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

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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