Hubbell Inc (NYSE:HUBB) Shares Sold by DB Fitzpatrick & Co Inc

DB Fitzpatrick & Co Inc cut its holdings in Hubbell Inc (NYSE:HUBB) by 10.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,323 shares of the industrial products company’s stock after selling 490 shares during the period. Hubbell comprises approximately 1.4% of DB Fitzpatrick & Co Inc’s holdings, making the stock its 18th biggest position. DB Fitzpatrick & Co Inc’s holdings in Hubbell were worth $1,431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Creative Financial Designs Inc. ADV raised its position in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after buying an additional 65 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Hubbell during the 1st quarter worth about $49,000. CX Institutional bought a new stake in shares of Hubbell during the 1st quarter worth about $49,000. Finally, Venturi Wealth Management LLC raised its position in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after buying an additional 53 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Up 1.9%

HUBB stock opened at $398.64 on Thursday. Hubbell Inc has a 52-week low of $299.43 and a 52-week high of $481.35. The company’s 50 day simple moving average is $372.16 and its 200-day simple moving average is $387.72. 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 firm has a market capitalization of $21.28 billion, a P/E ratio of 26.97, a P/E/G ratio of 1.37 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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Friday, May 30th. Hubbell’s payout ratio is presently 35.72%.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the sale, the chief executive officer now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction 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 now owns 1,727 shares of the company’s stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on HUBB shares. JPMorgan Chase & Co. boosted their price target 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. Barclays boosted their target price on shares of 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 shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $459.25.

Hubbell 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.