Truist Financial Corp Sells 363 Shares of Hubbell Incorporated (NYSE:HUBB)

Truist Financial Corp decreased its position in Hubbell Incorporated (NYSE:HUBB) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,995 shares of the industrial products company’s stock after selling 363 shares during the quarter. Truist Financial Corp’s holdings in Hubbell were worth $5,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares during the last quarter. Impax Asset Management Group plc lifted its position in Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after purchasing an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after buying an additional 286,134 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Hubbell by 4,414.0% during the fourth quarter. Point72 Asset Management L.P. now owns 242,855 shares of the industrial products company’s stock valued at $79,882,000 after buying an additional 237,475 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of HUBB stock opened at $438.50 on Tuesday. The stock has a market cap of $23.54 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 1.56 and a beta of 0.90. The business’s fifty day moving average is $394.44 and its 200 day moving average is $391.00. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $439.16. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm posted $4.07 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Research analysts expect that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.11%. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Transactions at Hubbell

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HUBB shares. JPMorgan Chase & Co. boosted their target price on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays boosted their target price on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday. Morgan Stanley started coverage on Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Finally, Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $414.50.

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.