Hubbell Incorporated (NYSE:HUBB) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 75.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 891 shares of the industrial products company’s stock after selling 2,802 shares during the quarter. Valley National Advisers Inc.’s holdings in Hubbell were worth $369,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Van Leeuwen & Company LLC lifted its position in shares of Hubbell by 59.8% during the 4th quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company’s stock valued at $2,719,000 after buying an additional 3,092 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its holdings in Hubbell by 265.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock valued at $13,563,000 after purchasing an additional 29,959 shares in the last quarter. Nordea Investment Management AB boosted its stake in Hubbell by 119.0% during the 4th quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock worth $50,388,000 after purchasing an additional 83,581 shares during the last quarter. PFG Advisors purchased a new stake in shares of Hubbell during the fourth quarter worth $1,108,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Hubbell during the fourth quarter worth $1,258,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 1.4 %

Shares of HUBB stock opened at $370.93 on Thursday. The company has a 50-day moving average of $386.45 and a two-hundred day moving average of $373.26. The firm has a market cap of $19.92 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03.

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

Hubbell Dividend Announcement

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

Insider Activity

In other news, Director Neal J. Keating bought 500 shares of Hubbell stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $378.77 per share, with a total value of $189,385.00. Following the completion of the acquisition, the director now directly owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hubbell news, Director Neal J. Keating acquired 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,055 shares of company stock worth $1,232,139. 0.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HUBB. Wells Fargo & Company decreased 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. Barclays lowered their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. Finally, Mizuho boosted their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

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.