LPL Financial LLC Sells 3,662 Shares of Hubbell Inc (NYSE:HUBB)

LPL Financial LLC decreased its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,496 shares of the industrial products company's stock after selling 3,662 shares during the quarter. LPL Financial LLC's holdings in Hubbell were worth $7,113,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HUBB. Tsfg LLC purchased a new position in Hubbell during the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. grew its position in Hubbell by 166.7% during 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 in the last quarter. NBC Securities Inc. purchased a new position in Hubbell during the 1st quarter worth approximately $49,000. CX Institutional purchased a new position in Hubbell during the 1st quarter worth approximately $49,000. Finally, Intact Investment Management Inc. purchased a new position in Hubbell during the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Price Performance

Shares of HUBB stock traded down $5.68 during trading hours on Thursday, reaching $438.28. 321,903 shares of the company were exchanged, compared to its average volume of 636,833. The stock's fifty day moving average is $414.49 and its two-hundred day moving average is $382.53. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.57. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. Sell-side analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell's dividend payout ratio is currently 34.29%.

Insider Activity

In other news, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction 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 owned 1,727 shares of the company's stock, valued at $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HUBB has been the topic of several research analyst reports. Barclays boosted their price target on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company boosted their price target on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $462.29.

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.