Hubbell Incorporated (NYSE:HUBB) Shares Sold by Xponance Inc.

Xponance Inc. cut its position in shares of Hubbell Incorporated (NYSE:HUBB) by 24.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,113 shares of the industrial products company’s stock after selling 2,279 shares during the quarter. Xponance Inc.’s holdings in Hubbell were worth $2,600,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Nvwm LLC bought a new position in Hubbell during the first quarter valued at about $25,000. Riverview Trust Co bought a new position in shares of Hubbell during the 1st quarter valued at about $52,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell in the 1st quarter worth approximately $56,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hubbell in the 2nd quarter worth approximately $62,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 35 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Up 0.9 %

NYSE:HUBB opened at $427.95 on Friday. The stock has a market cap of $22.97 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $433.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The stock’s 50-day moving average is $385.83 and its two-hundred day moving average is $389.69.

Hubbell (NYSE:HUBB) last announced 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 firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $4.07 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued 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 dividend yield of 1.14%. Hubbell’s dividend payout ratio is 36.39%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Barclays reduced their target price on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $404.88.

Insider Activity 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 stock was 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 approximately $24,861,791.10. The sale 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 business’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 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 accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction 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 transaction, 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. 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.