Amalgamated Bank Reduces Stock Position in Hubbell Incorporated (NYSE:HUBB)

Amalgamated Bank lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 49.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,231 shares of the industrial products company's stock after selling 18,742 shares during the quarter. Amalgamated Bank's holdings in Hubbell were worth $6,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. Beacon Harbor Wealth Advisors Inc. lifted its stake in Hubbell by 2.8% in the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 15,832 shares of the industrial products company's stock worth $5,208,000 after acquiring an additional 426 shares during the period. First Trust Direct Indexing L.P. bought a new stake in shares of Hubbell during the 4th quarter valued at $260,000. Great Valley Advisor Group Inc. bought a new position in shares of Hubbell during the fourth quarter valued at approximately $1,258,000. New York Life Investment Management LLC purchased a new stake in shares of Hubbell in the 4th quarter worth approximately $2,530,000. Finally, Essex Financial Services Inc. increased its position in Hubbell by 3.1% during the 4th quarter. Essex Financial Services Inc. now owns 1,703 shares of the industrial products company's stock valued at $560,000 after buying an additional 52 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Up 2.1 %

Shares of HUBB traded up $8.11 during mid-day trading on Monday, hitting $388.00. The company's stock had a trading volume of 457,229 shares, compared to its average volume of 430,406. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The company's 50-day moving average is $398.06 and its 200-day moving average is $345.96. The firm has a market capitalization of $20.81 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.47 and a beta of 0.96. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.54 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.61 earnings per share. On average, equities research analysts forecast that Hubbell Incorporated will post 16.35 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $1.22 dividend. The ex-dividend date is Thursday, May 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.26%. Hubbell's payout ratio is 36.39%.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,837 shares of the business's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the sale, the insider now owns 5,296 shares in the company, valued at $1,896,815.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Katherine Anne Lane sold 1,468 shares of the firm's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the transaction, the vice president now directly owns 9,355 shares in the company, valued at $3,297,731.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 1,837 shares of Hubbell 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 directly owns 5,296 shares of the company's stock, valued at approximately $1,896,815.36. The disclosure for this sale can be found here. Insiders sold 4,747 shares of company stock valued at $1,693,364 in the last quarter. 0.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HUBB shares. Mizuho increased their target price on 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 assumed coverage on Hubbell in a research note on Monday, March 11th. They issued a "hold" rating and a $427.00 price target for the company. StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. Barclays reduced their price target on shares of Hubbell from $400.00 to $384.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of Hubbell from $435.00 to $397.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $386.57.

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.