Hubbell Incorporated (NYSE:HUBB) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 79.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HUBB. Commonwealth Equity Services LLC grew its stake in shares of Hubbell by 6.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,056 shares of the industrial products company’s stock worth $3,465,000 after purchasing an additional 713 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Hubbell by 50.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,630 shares of the industrial products company’s stock valued at $2,705,000 after buying an additional 2,886 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position 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 acquiring an additional 711 shares during the last quarter. Monument Capital Management boosted its stake in shares of Hubbell by 850.2% during the 3rd quarter. Monument Capital Management now owns 9,169 shares of the industrial products company’s stock worth $2,874,000 after acquiring an additional 8,204 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 worth $16,501,000 after acquiring an additional 32,040 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HUBB shares. Wells Fargo & Company reduced their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday. Mizuho upped their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays decreased their price objective 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, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $386.57.

Insider Transactions at Hubbell

In other Hubbell 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 transaction of $517,484.68. Following the transaction, the vice president now directly owns 9,355 shares in the company, valued at $3,297,731.05. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Mark Eugene Mikes sold 1,045 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $357.56, for a total value of $373,650.20. Following the transaction, the insider now directly owns 7,310 shares in the company, valued at approximately $2,613,763.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Katherine Anne Lane sold 1,468 shares of Hubbell stock in a transaction on Tuesday, February 6th. The stock was 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 approximately $3,297,731.05. The disclosure for this sale can be found here. Insiders have sold a total of 4,747 shares of company stock worth $1,693,364 in the last 90 days. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $379.88 on Friday. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 2.28 and a beta of 0.96. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The company has a current ratio of 1.66, a quick ratio of 1.01 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $398.06 and a 200 day simple moving average of $345.25.

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 analysts’ consensus estimates of $3.54 by $0.06. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $3.61 EPS. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s dividend payout ratio is 36.39%.

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.