Louisiana State Employees Retirement System Sells 100 Shares of Hubbell Incorporated (NYSE:HUBB)

Louisiana State Employees Retirement System decreased its holdings in Hubbell Incorporated (NYSE:HUBB) by 3.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the industrial products company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Hubbell were worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Nvwm LLC bought a new position in Hubbell in the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Principal Securities Inc. purchased a new position in Hubbell in the fourth quarter worth $40,000. Riverview Trust Co purchased a new position in Hubbell in the first quarter worth $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in Hubbell in the first quarter worth $56,000. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the company’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 transaction, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on HUBB shares. Wells Fargo & Company lifted 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. Stephens reissued an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Barclays dropped their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $402.57.

Hubbell Trading Up 0.7 %

Shares of Hubbell stock opened at $387.97 on Wednesday. The firm has a 50-day simple moving average of $374.18 and a two-hundred day simple moving average of $385.24. The company has a market cap of $20.83 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 1.43 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. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping 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 company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.07 earnings per share. As a group, equities analysts predict that Hubbell Incorporated will post 16.38 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $1.22 per share. The ex-dividend date is Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.26%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

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.