QRG Capital Management Inc. reduced its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,835 shares of the industrial products company's stock after selling 1,117 shares during the quarter. QRG Capital Management Inc.'s holdings in Hubbell were worth $1,931,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. CHB Investment Group LLC increased its stake in shares of Hubbell by 1.0% during the first quarter. CHB Investment Group LLC now owns 6,976 shares of the industrial products company's stock worth $2,308,000 after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC grew its holdings in Hubbell by 65.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,658 shares of the industrial products company's stock valued at $4,850,000 after buying an additional 5,810 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Hubbell by 3.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 70,430 shares of the industrial products company's stock worth $23,306,000 after buying an additional 2,235 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Hubbell by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,498 shares of the industrial products company's stock worth $1,820,000 after buying an additional 198 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of Hubbell by 7.0% during the first quarter. NorthCrest Asset Manangement LLC now owns 19,308 shares of the industrial products company's stock worth $6,389,000 after buying an additional 1,261 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.
Hubbell Price Performance
Shares of Hubbell stock traded down $3.47 during trading on Friday, reaching $395.26. 756,921 shares of the company's stock were exchanged, compared to its average volume of 538,712. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. Hubbell Inc has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a market cap of $21.10 billion, a P/E ratio of 26.74, a PEG ratio of 1.39 and a beta of 0.99. The firm's 50-day moving average price is $373.29 and its 200 day moving average price is $387.31.
Hubbell (NYSE:HUBB - Get Free Report) last released its 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 business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The business's revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.60 EPS. As a group, research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.
Hubbell Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's dividend payout ratio is 35.72%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. raised their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Barclays boosted 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $459.25.
Check Out Our Latest Stock Report on HUBB
Insider Activity at Hubbell
In related news, Director Carlos M. Cardoso sold 400 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the sale, the director now owns 1,727 shares of the company's stock, valued at $667,122.83. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of the business'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 owns 82,101 shares in the company, valued at $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Hubbell Company Profile
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Free Report)
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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