Hubbell Incorporated (NYSE:HUBB) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,991 shares of the industrial products company’s stock after selling 2,243 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.07% of Hubbell worth $16,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. Royal London Asset Management Ltd. acquired a new stake in Hubbell during the 3rd quarter worth $4,050,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of Hubbell by 13.7% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 10,136 shares of the industrial products company’s stock worth $3,177,000 after acquiring an additional 1,218 shares during the period. Comerica Bank raised its holdings in shares of Hubbell by 17.2% during the 3rd quarter. Comerica Bank now owns 73,320 shares of the industrial products company’s stock worth $22,980,000 after acquiring an additional 10,738 shares during the period. Graham Capital Management L.P. raised its holdings in shares of Hubbell by 950.5% during the 3rd quarter. Graham Capital Management L.P. now owns 18,909 shares of the industrial products company’s stock worth $5,926,000 after acquiring an additional 17,109 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Hubbell by 78.3% during the 3rd quarter. Deutsche Bank AG now owns 98,879 shares of the industrial products company’s stock worth $30,990,000 after acquiring an additional 43,409 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 0.9 %

HUBB traded up $3.30 on Thursday, reaching $378.62. The company’s stock had a trading volume of 18,485 shares, compared to its average volume of 449,718. The stock has a 50 day moving average of $384.58 and a two-hundred day moving average of $374.99. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 1.39 and a beta of 0.90. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.06. The business 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 company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.61 earnings per share. As a group, analysts forecast that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared 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. This represents a $4.88 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Friday, May 31st. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Mizuho boosted their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company reduced 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, May 1st. Finally, Barclays reduced their price objective on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $386.57.

Insider Transactions at Hubbell

In related news, Director Neal J. Keating purchased 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the purchase, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Hubbell news, Director Neal J. Keating acquired 500 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Insiders sold 3,055 shares of company stock worth $1,232,139 over the last 90 days. 0.78% of the stock is currently owned by insiders.

Hubbell Company 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.