Mutual of America Capital Management LLC Lowers Stock Position in Hubbell Incorporated (NYSE:HUBB)

Mutual of America Capital Management LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,772 shares of the industrial products company’s stock after selling 261 shares during the period. Mutual of America Capital Management LLC’s holdings in Hubbell were worth $2,475,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Nvwm LLC purchased a new stake in Hubbell during the 1st quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in Hubbell by 1,850.0% during the 4th 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 period. Riverview Trust Co purchased a new stake in Hubbell during the 1st quarter worth $52,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the 1st quarter worth $56,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell during the 2nd quarter worth $62,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages recently weighed in on HUBB. 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. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Morgan Stanley started coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective for the company. 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 report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

Hubbell Stock Performance

Shares of Hubbell stock opened at $424.86 on Wednesday. The firm has a market cap of $22.81 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The firm’s 50-day simple moving average is $383.50 and its 200-day simple moving average is $389.18. 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 Incorporated has a 1 year low of $248.37 and a 1 year high of $433.03.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping 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%. Hubbell’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.07 earnings per share. Equities analysts forecast that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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