Kentucky Retirement Systems Has $1.48 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Kentucky Retirement Systems lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,046 shares of the industrial products company’s stock after selling 27 shares during the period. Kentucky Retirement Systems’ holdings in Hubbell were worth $1,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in Hubbell in the 4th quarter worth about $40,000. Brown Advisory Inc. increased its stake in shares of Hubbell by 2.7% in the fourth quarter. Brown Advisory Inc. now owns 6,429 shares of the industrial products company’s stock valued at $2,115,000 after buying an additional 166 shares during the period. Norges Bank bought a new position in Hubbell in the 4th quarter valued at approximately $143,024,000. UBS Group AG boosted its position in Hubbell by 52.7% during the 4th quarter. UBS Group AG now owns 46,749 shares of the industrial products company’s stock worth $15,377,000 after buying an additional 16,133 shares during the period. Finally, Clearbridge Investments LLC acquired a new position in Hubbell in the 4th quarter valued at approximately $1,258,000. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on HUBB shares. Barclays reduced their price objective on shares of 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 reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Hubbell Stock Performance

NYSE:HUBB opened at $426.01 on Friday. The firm has a market capitalization of $22.87 billion, a P/E ratio of 31.77, a P/E/G ratio of 1.44 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The company has a fifty day moving average of $381.79 and a 200-day moving average of $388.65. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.07 earnings per share. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.15%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Activity

In related news, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s 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 transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

About Hubbell

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.