Hubbell Incorporated (NYSE:HUBB) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 3.2% in the second quarter, HoldingsChannel.com reports. The fund owned 3,000 shares of the industrial products company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Hubbell were worth $1,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWM LLC raised its position in Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after buying an additional 30 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after buying an additional 35 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of Hubbell by 4.0% in the first quarter. Tectonic Advisors LLC now owns 946 shares of the industrial products company’s stock valued at $393,000 after buying an additional 36 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of Hubbell by 4.2% in the second quarter. V Square Quantitative Management LLC now owns 892 shares of the industrial products company’s stock valued at $326,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Hubbell stock opened at $387.97 on Wednesday. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The firm has a 50 day moving average price of $374.18 and a 200 day moving average price of $385.24. The company has a market cap of $20.83 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 1.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm earned $4.07 earnings per share. Hubbell’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts predict that Hubbell Incorporated will post 16.38 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.26%. Hubbell’s dividend payout ratio is currently 36.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HUBB shares. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays cut their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their target price on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $402.57.

About Hubbell

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.