Hubbell Incorporated (NYSE:HUBB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 41.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,471 shares of the industrial products company's stock after selling 146,168 shares during the period. Principal Financial Group Inc. owned approximately 0.39% of Hubbell worth $69,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of HUBB. Lindbrook Capital LLC grew its stake in shares of Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 51 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of Hubbell during the 4th quarter worth approximately $33,000. Principal Securities Inc. acquired a new position in shares of Hubbell during the 4th quarter worth approximately $40,000. Sentry Investment Management LLC bought a new stake in Hubbell in the 4th quarter valued at $91,000. Finally, Blue Trust Inc. boosted its position in Hubbell by 43.2% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company's stock worth $133,000 after purchasing an additional 128 shares during the period. Institutional investors own 88.16% of the company's stock.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,942 shares of the business's stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the sale, the insider now owns 3,436 shares of the company's stock, valued at approximately $1,379,004.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the business's stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of the company's stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the sale, the insider now directly owns 4,234 shares of the company's stock, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Insiders own 0.78% of the company's stock.

Hubbell Stock Up 0.9 %

Shares of Hubbell stock traded up $3.69 during trading hours on Wednesday, reaching $404.73. The company's stock had a trading volume of 340,011 shares, compared to its average volume of 425,583. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. The stock's fifty day simple moving average is $401.14 and its two-hundred day simple moving average is $351.78. The company has a market capitalization of $21.73 billion, a P/E ratio of 29.91, a P/E/G ratio of 1.56 and a beta of 0.96. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61.

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

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a dividend of $1.22 per share. The ex-dividend date is Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.21%. Hubbell's dividend payout ratio (DPR) is currently 36.39%.

Analyst Ratings Changes

A number of research firms have recently issued reports on HUBB. Barclays cut their target price 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, May 2nd. 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. Wells Fargo & Company reduced their price target on Hubbell from $435.00 to $397.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research report on Monday, March 11th. They set a "hold" rating and a $427.00 price objective on the stock. Finally, StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $386.57.

About Hubbell

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.