Hubbell Incorporated (NYSE:HUBB) Position Trimmed by First Foundation Advisors

First Foundation Advisors decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195 shares of the industrial products company’s stock after selling 65 shares during the period. First Foundation Advisors’ holdings in Hubbell were worth $71,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Oak Thistle LLC bought a new stake in Hubbell during the second quarter valued at $255,000. Hudson Edge Investment Partners Inc. increased its stake in Hubbell by 4.3% during the second quarter. Hudson Edge Investment Partners Inc. now owns 16,317 shares of the industrial products company’s stock valued at $5,964,000 after purchasing an additional 678 shares during the last quarter. Triasima Portfolio Management inc. increased its stake in Hubbell by 11.4% during the second quarter. Triasima Portfolio Management inc. now owns 13,849 shares of the industrial products company’s stock valued at $5,062,000 after purchasing an additional 1,420 shares during the last quarter. Caprock Group LLC bought a new stake in Hubbell during the second quarter valued at $1,529,000. Finally, Acadian Asset Management LLC grew its position in shares of Hubbell by 51.3% during the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after acquiring an additional 1,252 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other Hubbell 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 sale, 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 is available through this link. In other news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction that occurred 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 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 is available through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Morgan Stanley initiated coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Hubbell Price Performance

Shares of NYSE HUBB opened at $380.16 on Wednesday. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. 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 $20.41 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.40 and a beta of 0.90. The firm has a 50-day moving average of $375.95 and a two-hundred day moving average of $386.89.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s dividend payout ratio is presently 36.39%.

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.