Hubbell Inc (NYSE:HUBB) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,856 shares of the industrial products company's stock after selling 2,501 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Hubbell worth $15,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV raised its holdings in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after buying an additional 30 shares during the last quarter. Tsfg LLC acquired a new position in Hubbell in the 1st quarter valued at about $30,000. Johnson Financial Group Inc. increased its position in Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares during the period. CX Institutional purchased a new stake in Hubbell during the 1st quarter valued at approximately $49,000. Finally, NBC Securities Inc. purchased a new stake in Hubbell during the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Activity at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction that occurred 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 sale, the director owned 1,727 shares of the company's stock, valued at approximately $667,122.83. This represents a 18.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer directly owned 82,101 shares of the company's stock, valued at $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 corporate insiders.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of recent research reports. Wells Fargo & Company set a $420.00 target price on Hubbell and gave the company an "equal weight" rating in a report on Tuesday. Barclays lifted their price objective on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $455.50.

Hubbell Price Performance

Shares of HUBB traded down $0.31 on Thursday, reaching $414.82. The stock had a trading volume of 315,849 shares, compared to its average volume of 531,977. Hubbell Inc has a twelve month low of $299.43 and a twelve month high of $481.35. The firm has a market capitalization of $22.14 billion, a PE ratio of 28.07, a PEG ratio of 1.44 and a beta of 0.99. The firm has a 50-day moving average of $385.54 and a 200 day moving average of $383.71. 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 (NYSE:HUBB - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $3.60 EPS. Sell-side analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

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

About Hubbell

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.