Hubbell Incorporated (NYSE:HUBB) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 16.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,101 shares of the industrial products company’s stock after selling 2,720 shares during the quarter. State of Alaska Department of Revenue’s holdings in Hubbell were worth $5,851,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Hubbell by 8.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,437 shares of the industrial products company’s stock worth $1,842,000 after buying an additional 345 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Hubbell by 81.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock worth $22,565,000 after acquiring an additional 24,321 shares during the period. Diversified Trust Co grew its stake in Hubbell by 56.2% during the 1st quarter. Diversified Trust Co now owns 1,417 shares of the industrial products company’s stock valued at $588,000 after purchasing an additional 510 shares during the last quarter. New Mexico Educational Retirement Board increased its holdings in shares of Hubbell by 304.6% in the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock valued at $4,685,000 after purchasing an additional 8,497 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Hubbell by 28.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,597 shares of the industrial products company’s stock valued at $663,000 after buying an additional 356 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Hubbell Stock Performance

NYSE HUBB opened at $370.93 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The stock has a 50-day moving average of $386.45 and a 200 day moving average of $373.26. The stock has a market capitalization of $19.92 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.35 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.61 EPS. Sell-side analysts anticipate that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a dividend of $1.22 per share. The ex-dividend date was Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.32%. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the transaction, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neal J. Keating bought 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the acquisition, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The disclosure for this purchase can be found here. Insiders sold a total of 3,055 shares of company stock worth $1,232,139 in the last 90 days. Insiders own 0.78% of the company’s stock.

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.