Hubbell Incorporated (NYSE:HUBB) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,212 shares of the industrial products company's stock after selling 817 shares during the period. USS Investment Management Ltd's holdings in Hubbell were worth $2,603,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. HB Wealth Management LLC raised its holdings in Hubbell by 16.3% during the 4th quarter. HB Wealth Management LLC now owns 786 shares of the industrial products company's stock valued at $329,000 after buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Hubbell by 12.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock valued at $96,000 after purchasing an additional 25 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Hubbell by 4.1% during the 4th quarter. Ballentine Partners LLC now owns 995 shares of the industrial products company's stock valued at $417,000 after purchasing an additional 39 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Hubbell by 2.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,752 shares of the industrial products company's stock worth $2,409,000 after purchasing an additional 151 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock worth $12,032,000 after purchasing an additional 15,806 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analysts Set New Price Targets

HUBB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, Barclays decreased their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $457.50.

Hubbell Stock Performance

Shares of Hubbell stock traded down $3.96 during trading on Wednesday, reaching $394.90. The company's stock had a trading volume of 500,583 shares, compared to its average volume of 538,436. The company has a 50-day moving average price of $354.30 and a two-hundred day moving average price of $394.29. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm has a market cap of $21.08 billion, a PE ratio of 27.50, a P/E/G ratio of 1.34 and a beta of 0.97. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last released 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). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the prior year, the business earned $3.60 EPS. The business's quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's payout ratio is 35.72%.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the firm'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 directly owns 1,727 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the sale, the chief executive officer now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

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.