Public Employees Retirement System of Ohio Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Public Employees Retirement System of Ohio lessened its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,160 shares of the industrial products company's stock after selling 1,054 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Hubbell were worth $8,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Huntington National Bank lifted its position in Hubbell by 3.0% in the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock valued at $371,000 after buying an additional 26 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Hubbell by 0.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after acquiring an additional 26 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Hubbell by 0.5% during the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock worth $2,313,000 after purchasing an additional 27 shares during the period. Mindset Wealth Management LLC increased its holdings in Hubbell by 1.7% in the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock valued at $693,000 after purchasing an additional 27 shares during the last quarter. Finally, BHK Investment Advisors LLC increased its holdings in Hubbell by 2.3% in the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company's stock valued at $566,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer now owns 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction dated 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 transaction, the director now owns 1,727 shares in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Barclays cut their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $457.50.

Hubbell Price Performance

Shares of NYSE HUBB traded down $5.49 during trading on Friday, hitting $390.13. 1,091,717 shares of the company were exchanged, compared to its average volume of 541,535. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The company has a market cap of $20.82 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 1.34 and a beta of 0.97. The firm's fifty day moving average price is $356.40 and its 200 day moving average price is $393.83.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell's revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.60 earnings per share. On average, sell-side analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's dividend payout ratio (DPR) is 35.72%.

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.