Hubbell Inc (NYSE:HUBB) Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has reduced its holdings in Hubbell Inc by 1.7%, owning 32,630 shares worth approximately $10.8 million as of the latest SEC filing.
• Hubbell has recently had its quarterly earnings report indicating earnings per share of $3.50, which missed analysts' consensus estimate, alongside a revenue decline of 2.4% compared to the previous year.
• The company announced a quarterly dividend of $1.32 per share, reflecting an annualized yield of 1.19%, with a payout ratio of 35.72%.

Universal Beteiligungs und Servicegesellschaft mbH trimmed its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,630 shares of the industrial products company's stock after selling 573 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.06% of Hubbell worth $10,798,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank increased its holdings in Hubbell by 3.0% in the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after acquiring an additional 26 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Hubbell by 0.4% during 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 purchasing an additional 26 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in Hubbell by 0.6% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 6,458 shares of the industrial products company's stock worth $2,705,000 after purchasing an additional 39 shares during the last quarter. Abundance Wealth Counselors boosted its stake in Hubbell by 1.6% during the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after purchasing an additional 41 shares during the last quarter. Finally, Utah Retirement Systems boosted its stake in Hubbell by 0.5% during the 4th quarter. Utah Retirement Systems now owns 8,857 shares of the industrial products company's stock worth $3,710,000 after purchasing an additional 48 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company set a $420.00 price target on shares of Hubbell and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Barclays boosted their price target on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $456.25.

Insider Buying and Selling

In other news, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the sale, the chief executive officer owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction dated 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 directly owned 1,727 shares in the company, valued at $667,122.83. This represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.

Hubbell Trading Down 3.2%

Shares of Hubbell stock traded down $14.13 on Tuesday, reaching $424.18. The company had a trading volume of 320,304 shares, compared to its average volume of 638,636. The firm's 50 day moving average price is $405.43 and its two-hundred day moving average price is $382.70. The firm has a market cap of $22.64 billion, a PE ratio of 28.71, a PEG ratio of 2.55 and a beta of 0.99. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. 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 (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.40 by $0.53. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. Sell-side analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, August 29th. 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.