Retirement Systems of Alabama Has $7.97 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Retirement Systems of Alabama trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 79.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,216 shares of the industrial products company’s stock after selling 91,074 shares during the period. Retirement Systems of Alabama’s holdings in Hubbell were worth $7,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Star Asset Management Inc. increased its stake in shares of Hubbell by 1.5% during the 3rd quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock worth $746,000 after purchasing an additional 36 shares during the last quarter. Xponance Inc. lifted its position in shares of Hubbell by 0.4% in the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock valued at $3,006,000 after buying an additional 36 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of Hubbell by 2.4% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock worth $603,000 after acquiring an additional 45 shares during the period. Grove Bank & Trust increased its holdings in shares of Hubbell by 14.3% during the 3rd quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 50 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Hubbell by 6.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 881 shares of the industrial products company’s stock valued at $276,000 after acquiring an additional 50 shares during the period. 88.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

HUBB has been the topic of several research reports. Wells Fargo & Company decreased their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday. Barclays reduced their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday. 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 began coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price target for the company. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $386.57.

Hubbell Price Performance

Hubbell stock opened at $379.88 on Friday. The firm has a market cap of $20.37 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.01. The stock’s fifty day moving average price is $398.06 and its two-hundred day moving average price is $345.25. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. Hubbell’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $3.61 earnings per share. As a group, research analysts expect that Hubbell Incorporated will post 16.41 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,045 shares of the company’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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 1,045 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $357.56, for a total transaction of $373,650.20. Following the completion of the transaction, the insider now owns 7,310 shares of the company’s stock, valued at $2,613,763.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction that occurred on 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 sale, 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. In the last 90 days, insiders have sold 4,747 shares of company stock worth $1,693,364. Corporate insiders own 0.66% of the company’s stock.

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.