Victory Capital Management Inc. Trims Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Victory Capital Management Inc. cut its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,559 shares of the industrial products company's stock after selling 31,223 shares during the period. Victory Capital Management Inc. owned 0.97% of Hubbell worth $170,899,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Hubbell by 1.7% during the third quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company's stock valued at $1,810,812,000 after acquiring an additional 96,435 shares during the period. FMR LLC raised its holdings in Hubbell by 2.9% in the 3rd quarter. FMR LLC now owns 2,563,965 shares of the industrial products company's stock valued at $803,572,000 after acquiring an additional 71,962 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company's stock worth $484,497,000 after buying an additional 1,468,463 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Hubbell by 10.7% in the 3rd quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company's stock worth $374,538,000 after buying an additional 115,886 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Hubbell by 46.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company's stock worth $319,699,000 after buying an additional 323,116 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Trading Down 0.1 %

NYSE HUBB traded down $0.36 during trading on Thursday, hitting $372.94. The stock had a trading volume of 645,588 shares, compared to its average volume of 429,981. The firm has a 50 day moving average price of $397.61 and a 200 day moving average price of $344.52. The company has a market capitalization of $20.00 billion, a PE ratio of 27.85, a PEG ratio of 2.26 and a beta of 0.96. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The company has a quick ratio of 1.01, a current ratio of 1.66 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. Hubbell's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.61 earnings per share. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.4 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.22 per share. The ex-dividend date is Thursday, May 30th. This represents a $4.88 annualized dividend and a yield of 1.31%. Hubbell's dividend payout ratio is presently 36.39%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HUBB shares. Barclays cut their price target on shares of Hubbell from $400.00 to $384.00 and set an "equal weight" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They set a "hold" rating and a $427.00 target price on the stock. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd. Wells Fargo & Company dropped their target price on shares of Hubbell from $435.00 to $397.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Mizuho upped their price target on 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 given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $386.57.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,837 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $358.16, for a total value of $657,939.92. Following the sale, the insider now directly owns 5,296 shares in the company, valued at $1,896,815.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gerben Bakker sold 13,355 shares of the company's stock in a transaction on Friday, February 2nd. The stock was 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 directly owns 51,783 shares in the company, valued at approximately $18,286,130.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Eugene Mikes sold 1,837 shares of the company's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total value of $657,939.92. Following the sale, the insider now owns 5,296 shares of the company's stock, valued at $1,896,815.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock worth $12,065,100. 0.66% of the stock is owned by corporate insiders.

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.