KBC Group NV Has $2.91 Million Holdings in Hubbell Inc (NYSE:HUBB)

KBC Group NV trimmed its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,801 shares of the industrial products company's stock after selling 1,915 shares during the quarter. KBC Group NV's holdings in Hubbell were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in HUBB. Creative Financial Designs Inc. ADV lifted its holdings in 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 during the first quarter valued at approximately $30,000. Johnson Financial Group Inc. increased its position in shares of Hubbell by 166.7% during the fourth 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 period. CX Institutional bought a new stake in shares of Hubbell during the first quarter valued at approximately $49,000. Finally, NBC Securities Inc. bought a new stake in shares of Hubbell during the first quarter valued at approximately $49,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

HUBB opened at $414.82 on Friday. The stock has a market cap of $22.14 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.45 and a beta of 0.99. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. Hubbell Inc has a 12-month low of $299.43 and a 12-month high of $481.35. The business has a 50 day moving average of $385.54 and a 200-day moving average of $383.71.

Hubbell (NYSE:HUBB - Get Free Report) last announced its 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 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 quarter last year, the business posted $3.60 EPS. Hubbell's revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $1.32 per share. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.27%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Insiders Place Their Bets

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 value of $154,516.00. Following the transaction, the director 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 SEC, which is accessible through this hyperlink. 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 completion of the transaction, the chief executive officer owned 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on HUBB. JPMorgan Chase & Co. boosted their price target 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 lowered Hubbell from a "buy" rating to a "hold" rating in a research note 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 note on Monday, June 9th. Finally, Wells Fargo & Company set a $420.00 target price on Hubbell and gave the company an "equal weight" rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $455.50.

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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