Amalgamated Bank Trims Position in Hubbell Incorporated (NYSE:HUBB)

Amalgamated Bank reduced its holdings in Hubbell Incorporated (NYSE:HUBB) by 49.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,231 shares of the industrial products company’s stock after selling 18,742 shares during the period. 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 have also recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its holdings in Hubbell by 6.9% during the third quarter. Commonwealth Equity Services LLC now owns 11,056 shares of the industrial products company’s stock worth $3,465,000 after acquiring an additional 713 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Hubbell by 50.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,630 shares of the industrial products company’s stock valued at $2,705,000 after purchasing an additional 2,886 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Hubbell by 8.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,410 shares of the industrial products company’s stock valued at $2,949,000 after purchasing an additional 711 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hubbell by 155.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,649 shares of the industrial products company’s stock valued at $16,501,000 after purchasing an additional 32,040 shares during the period. Finally, IFM Investors Pty Ltd boosted its holdings in Hubbell by 10.7% during the third quarter. IFM Investors Pty Ltd now owns 11,868 shares of the industrial products company’s stock worth $3,720,000 after buying an additional 1,148 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 1.9 %

Shares of HUBB stock opened at $379.89 on Monday. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. 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 moving average is $398.06 and its two-hundred day moving average is $345.96. The firm has a market capitalization of $20.37 billion, a P/E ratio of 28.33, a PEG ratio of 1.47 and a beta of 0.96.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share 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 the consensus estimate of $1.39 billion. During the same period last year, the firm posted $3.61 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts expect that Hubbell Incorporated will post 16.35 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared 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 1.28%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several recent analyst reports. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. Barclays decreased their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Finally, Mizuho upped their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $386.57.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,045 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $357.56, for a total transaction of $373,650.20. Following the transaction, the insider now owns 7,310 shares of the company’s stock, valued at $2,613,763.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Mark Eugene Mikes sold 1,045 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $357.56, for a total transaction of $373,650.20. Following the completion of the sale, the insider now directly owns 7,310 shares in the company, valued at $2,613,763.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the business’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 completion of the transaction, the vice president now owns 9,355 shares in the company, valued at $3,297,731.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,747 shares of company stock valued at $1,693,364. 0.78% of the stock is currently owned by 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.