Impax Asset Management Group plc Sells 14,355 Shares of Hubbell Incorporated (NYSE:HUBB)

Impax Asset Management Group plc lowered its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 676,318 shares of the industrial products company's stock after selling 14,355 shares during the period. Impax Asset Management Group plc owned approximately 1.26% of Hubbell worth $222,461,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of HUBB. Baillie Gifford & Co. acquired a new stake in Hubbell during the 4th quarter valued at $33,000. Coppell Advisory Solutions LLC acquired a new stake in Hubbell during the 2nd quarter valued at $50,000. First Manhattan Co. acquired a new stake in Hubbell during the 1st quarter valued at $28,000. Atlas Capital Advisors LLC acquired a new stake in Hubbell during the 4th quarter valued at $40,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Hubbell during the 4th quarter valued at $47,000. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Down 1.5 %

NYSE:HUBB traded down $6.41 during trading hours on Tuesday, reaching $409.33. The company's stock had a trading volume of 461,212 shares, compared to its average volume of 412,916. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 2.54 and a beta of 0.94. Hubbell Incorporated has a one year low of $219.77 and a one year high of $429.61. The business's 50-day moving average is $384.30 and its 200-day moving average is $334.95. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.58 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. Hubbell's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 earnings per share. Equities research analysts predict that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Wednesday, February 28th. Hubbell's dividend payout ratio is presently 34.73%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 397 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Katherine Anne Lane sold 1,468 shares of the company's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, the vice president now owns 9,355 shares of the company's stock, valued at $3,297,731.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,125 shares of company stock worth $12,065,100. Corporate insiders own 0.78% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays boosted their target price on shares of Hubbell from $340.00 to $400.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 2nd. Wells Fargo & Company boosted their target price on shares of Hubbell from $351.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 31st. Mizuho upped their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a "hold" rating and a $427.00 price target on the stock. Finally, StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $383.57.

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.