Pacer Advisors Inc. Reduces Stock Position in Hubbell Incorporated (NYSE:HUBB)

Pacer Advisors Inc. reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 13.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,319 shares of the industrial products company’s stock after selling 655 shares during the period. Pacer Advisors Inc.’s holdings in Hubbell were worth $1,579,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nvwm LLC purchased a new stake in shares of Hubbell during the first quarter worth about $25,000. Riverview Trust Co purchased a new stake in shares of Hubbell during the first quarter worth about $52,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell during the first quarter worth about $56,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hubbell during the second quarter worth about $62,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on HUBB shares. Stephens restated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company raised their price objective 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. Barclays lowered their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Finally, Morgan Stanley started coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Insider Activity at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Shares of NYSE HUBB opened at $427.95 on Friday. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $433.03. The company has a 50 day simple moving average of $385.83 and a two-hundred day simple moving average of $389.69. The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

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

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is currently 36.39%.

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.