Hubbell Incorporated (NYSE:HUBB) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,109 shares of the industrial products company’s stock after selling 349 shares during the period. Essex Investment Management Co. LLC’s holdings in Hubbell were worth $2,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 28 shares during the period. Meeder Advisory Services Inc. grew its position in Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 30 shares in the last quarter. Detalus Advisors LLC grew its position in Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares in the last quarter. Savant Capital LLC increased its stake in shares of Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 31 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Hubbell by 23.5% during the 2nd 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 in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on HUBB shares. Wells Fargo & Company increased their price objective on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Barclays upped their price objective on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Morgan Stanley started coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a report on Thursday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $423.13.

Hubbell Stock Performance

Shares of NYSE:HUBB traded up $13.12 on Friday, hitting $456.57. 326,409 shares of the company were exchanged, compared to its average volume of 447,486. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The company’s 50 day moving average price is $399.82 and its two-hundred day moving average price is $392.08. Hubbell Incorporated has a one year low of $248.37 and a one year high of $457.00. The firm has a market capitalization of $24.51 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 1.67 and a beta of 0.90.

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

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Activity

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 value of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The stock was 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 of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.