Hubbell Inc (NYSE:HUBB) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Hubbell Inc (NYSE:HUBB) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 45,856 shares of the industrial products company’s stock after selling 2,501 shares during the period. New York State Teachers Retirement System’s holdings in Hubbell were worth $15,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of HUBB. CX Institutional purchased a new stake in shares of Hubbell in the first quarter valued at approximately $49,000. Smartleaf Asset Management LLC boosted its position in shares of Hubbell by 25.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 38 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Hubbell by 21.1% during the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 56 shares during the period. Blue Trust Inc. increased its holdings in shares of Hubbell by 43.6% in the 1st quarter. Blue Trust Inc. now owns 382 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 116 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Hubbell by 1.8% in the 4th quarter. Janus Henderson Group PLC now owns 7,130 shares of the industrial products company’s stock valued at $2,988,000 after purchasing an additional 123 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the transaction, the director owned 1,727 shares of the company’s stock, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer directly owned 82,101 shares of the company’s stock, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hubbell Trading Up 1.1%

Shares of Hubbell stock opened at $415.23 on Thursday. Hubbell Inc has a 1 year low of $299.43 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73. The business has a 50 day moving average price of $384.47 and a 200 day moving average price of $383.99. The company has a market capitalization of $22.16 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.44 and a beta of 0.99.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the business posted $3.60 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell’s payout ratio is 35.72%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Wells Fargo & Company set a $420.00 price target on Hubbell and gave the stock an “equal weight” rating in a report on Tuesday. Barclays lifted their price objective on Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a report on Monday, June 9th. Finally, Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell has an average rating of “Hold” and a consensus target price of $455.50.

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.