Tobam Decreases Stake in Hubbell Incorporated (NYSE:HUBB)

Tobam lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 23.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 122 shares of the industrial products company’s stock after selling 38 shares during the quarter. Tobam’s holdings in Hubbell were worth $40,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stephens Inc. AR lifted its stake in Hubbell by 14.0% during the fourth quarter. Stephens Inc. AR now owns 1,895 shares of the industrial products company’s stock worth $794,000 after purchasing an additional 232 shares during the last quarter. Savant Capital LLC lifted its stake in Hubbell by 5.6% during the fourth quarter. Savant Capital LLC now owns 1,329 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 71 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Hubbell during the fourth quarter worth approximately $30,000. Avestar Capital LLC increased its position in Hubbell by 34.7% during the fourth quarter. Avestar Capital LLC now owns 777 shares of the industrial products company’s stock worth $325,000 after buying an additional 200 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Hubbell by 12.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 30,111 shares of the industrial products company’s stock worth $12,740,000 after buying an additional 3,244 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In related news, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the transaction, the director now owns 1,727 shares of the company’s stock, valued at $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the transaction, the chief executive officer now directly owns 82,101 shares in the company, valued at $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the topic of several research analyst reports. Barclays lifted their price target on Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. JPMorgan Chase & Co. lifted their price target on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $459.25.

Hubbell Trading Down 2.3%

NYSE:HUBB opened at $382.01 on Friday. The firm has a market cap of $20.39 billion, a P/E ratio of 26.60, a PEG ratio of 1.34 and a beta of 0.99. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock’s 50 day simple moving average is $367.69 and its 200-day simple moving average is $389.61. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 EPS. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell’s payout ratio is currently 35.72%.

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.