Sienna Gestion Decreases Stock Holdings in Hubbell Inc $HUBB

Key Points

• Sienna Gestion reduced its holdings in Hubbell Inc by 6.1% during the first quarter, leaving it with a total of 14,775 shares valued at approximately $4.75 million.
• Hubbell reported a quarterly EPS of $4.93, surpassing estimates, and generated revenue of $1.48 billion, which was slightly below expectations.
• The company announced a quarterly dividend of $1.32 per share, with a dividend yield of 1.2% and an ex-dividend date set for August 29th.

Sienna Gestion decreased its position in Hubbell Inc (NYSE:HUBB - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,775 shares of the industrial products company's stock after selling 964 shares during the quarter. Sienna Gestion's holdings in Hubbell were worth $4,753,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Hubbell by 7.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,978 shares of the industrial products company's stock valued at $655,000 after purchasing an additional 135 shares in the last quarter. Klingman & Associates LLC acquired a new position in Hubbell in the 1st quarter worth about $816,000. Russell Investments Group Ltd. increased its holdings in Hubbell by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 34,353 shares of the industrial products company's stock worth $11,368,000 after purchasing an additional 3,763 shares in the last quarter. Prudential PLC increased its holdings in Hubbell by 0.6% in the 1st quarter. Prudential PLC now owns 25,232 shares of the industrial products company's stock worth $8,350,000 after purchasing an additional 150 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. increased its holdings in Hubbell by 5.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 16,781 shares of the industrial products company's stock worth $5,556,000 after purchasing an additional 888 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Stock Up 1.2%

Hubbell stock traded up $4.94 during midday trading on Monday, reaching $432.59. The stock had a trading volume of 366,492 shares, compared to its average volume of 635,277. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The company has a market capitalization of $22.99 billion, a P/E ratio of 28.09, a PEG ratio of 2.39 and a beta of 0.99. The company has a fifty day moving average price of $416.13 and a two-hundred day moving average price of $382.25. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. As a group, equities analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HUBB shares. JPMorgan Chase & Co. upped their target price on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company raised their target price on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Barclays raised their target price on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $462.29.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the business'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 transaction of $154,516.00. Following the completion of the sale, the director directly owned 1,727 shares of the company's stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company's stock.

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.