Hubbell Incorporated (NYSE:HUBB) Stake Trimmed by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,845 shares of the industrial products company’s stock after selling 430 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Hubbell were worth $9,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Vanguard Group Inc. boosted its position in Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after buying an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after buying an additional 286,134 shares in the last quarter. FIL Ltd increased its holdings in Hubbell by 0.6% in the fourth quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock worth $366,925,000 after buying an additional 6,526 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after buying an additional 322,728 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hubbell Stock Up 1.6 %

NYSE HUBB opened at $399.18 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $21.43 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 1.40 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 stock’s 50 day moving average is $376.67 and its two-hundred day moving average is $387.03.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. Hubbell’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.07 earnings per share. Equities analysts forecast that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.22%. Hubbell’s payout ratio is 36.39%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HUBB. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays dropped their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Stephens restated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Finally, Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $404.88.

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.