Wealthfront Advisers LLC Trims Stake in Hubbell Inc (NYSE:HUBB)

Wealthfront Advisers LLC cut its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 16.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,433 shares of the industrial products company's stock after selling 2,114 shares during the quarter. Wealthfront Advisers LLC's holdings in Hubbell were worth $3,452,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in HUBB. Huntington National Bank increased its position in shares of Hubbell by 3.0% during the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after acquiring an additional 26 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in shares of Hubbell by 0.4% in the fourth 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 in the last quarter. Mindset Wealth Management LLC grew its position in shares of Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock worth $693,000 after buying an additional 27 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after buying an additional 30 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Hubbell by 0.6% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 6,458 shares of the industrial products company's stock valued at $2,705,000 after acquiring an additional 39 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the transaction, the director directly owned 1,727 shares of the company's stock, valued at $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. Insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HUBB shares. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Wells Fargo & Company set a $420.00 target price on shares of Hubbell and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Barclays lifted their price target on shares of Hubbell from $414.00 to $420.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $456.25.

Hubbell Trading Up 4.5%

Hubbell stock opened at $437.20 on Friday. The stock has a 50-day simple moving average of $398.31 and a 200 day simple moving average of $383.07. The stock has a market capitalization of $23.33 billion, a P/E ratio of 29.58, a PEG ratio of 1.46 and a beta of 0.99. Hubbell Inc has a 52 week low of $299.43 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 announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm 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 firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.60 earnings per share. Analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was 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.

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