Illinois Municipal Retirement Fund Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Illinois Municipal Retirement Fund cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 22.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,197 shares of the industrial products company's stock after selling 5,567 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Hubbell were worth $6,314,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HUBB. IFP Advisors Inc increased its holdings in shares of Hubbell by 330.4% during the third quarter. IFP Advisors Inc now owns 1,244 shares of the industrial products company's stock worth $390,000 after purchasing an additional 955 shares during the period. Capital Investment Advisors LLC bought a new position in Hubbell in the third quarter valued at approximately $262,000. Founders Financial Securities LLC bought a new position in Hubbell in the third quarter valued at approximately $219,000. Exchange Traded Concepts LLC increased its stake in Hubbell by 273.6% in the third quarter. Exchange Traded Concepts LLC now owns 2,197 shares of the industrial products company's stock valued at $689,000 after acquiring an additional 1,609 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Hubbell by 3.3% in the third quarter. Asset Management One Co. Ltd. now owns 30,037 shares of the industrial products company's stock valued at $9,414,000 after acquiring an additional 954 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Up 0.1 %

HUBB traded up $0.55 during trading on Wednesday, reaching $398.55. 335,232 shares of the stock traded hands, compared to its average volume of 406,171. The stock's 50-day moving average is $393.34 and its 200 day moving average is $341.12. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a market capitalization of $21.37 billion, a PE ratio of 28.32, a P/E/G ratio of 2.38 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

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

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.22%. Hubbell's dividend payout ratio is currently 34.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HUBB. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a report on Monday, March 11th. They set a "hold" rating and a $427.00 price target for the company. Barclays boosted their price objective on shares of Hubbell from $340.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 2nd. Wells Fargo & Company boosted their price objective on shares of Hubbell from $351.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 31st. Finally, Mizuho boosted their price objective 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. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $383.57.

Insider Activity

In related news, CEO Gerben Bakker sold 13,355 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the sale, the chief executive officer now owns 51,783 shares in the company, valued at approximately $18,286,130.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 value of $144,289.65. Following the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the sale, the chief executive officer now owns 51,783 shares of the company's stock, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,125 shares of company stock worth $12,065,100. Company insiders own 0.78% 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.