Jacobs & Co. CA Sells 445 Shares of Hubbell Incorporated (NYSE:HUBB)

Jacobs & Co. CA trimmed its position in Hubbell Incorporated (NYSE:HUBBFree Report) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,621 shares of the industrial products company’s stock after selling 445 shares during the period. Jacobs & Co. CA’s holdings in Hubbell were worth $9,803,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HUBB. Vanguard Group Inc. raised its holdings in Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after acquiring an additional 918,808 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after acquiring an additional 1,468,463 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Hubbell by 24.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock worth $417,267,000 after acquiring an additional 248,493 shares in the last quarter. FIL Ltd raised its holdings in Hubbell by 0.6% during the fourth quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock worth $366,925,000 after acquiring an additional 6,526 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Hubbell by 6.5% during the third quarter. Northern Trust Corp now owns 558,234 shares of the industrial products company’s stock worth $174,956,000 after acquiring an additional 34,022 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on HUBB. Barclays dropped their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company dropped their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective on the stock. Finally, Mizuho upped their price objective on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $386.57.

View Our Latest Report on Hubbell

Hubbell Price Performance

NYSE HUBB traded down $4.48 on Tuesday, hitting $375.08. 51,355 shares of the company’s stock were exchanged, compared to its average volume of 439,412. The stock has a 50-day moving average of $389.93 and a 200-day moving average of $371.16. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61. The stock has a market cap of $20.14 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 1.46 and a beta of 0.94.

Hubbell (NYSE:HUBBGet Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the company earned $3.61 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, May 31st. Hubbell’s payout ratio is presently 36.39%.

Insider Activity

In other news, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the purchase, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the purchase, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the transaction, the insider now owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,055 shares of company stock worth $1,232,139. Insiders own 0.78% of the company’s stock.

Hubbell Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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