Hubbell Incorporated (NYSE:HUBB) Position Lowered by American International Group Inc.

American International Group Inc. decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 80.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,571 shares of the industrial products company’s stock after selling 61,208 shares during the period. American International Group Inc.’s holdings in Hubbell were worth $4,793,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in shares of Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC lifted its position in shares of Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in shares of Hubbell in the 4th quarter valued at approximately $33,000. Principal Securities Inc. purchased a new stake in shares of Hubbell in the 4th quarter valued at approximately $40,000. Finally, TFO Wealth Partners LLC increased its stake in Hubbell by 13,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 266 shares of the industrial products company’s stock valued at $87,000 after buying an additional 264 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Neal J. Keating acquired 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, with a total value of $189,385.00. Following the completion of the transaction, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Neal J. Keating bought 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the acquisition, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Eugene Mikes sold 1,942 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the transaction, the insider now owns 3,436 shares in the company, valued at $1,379,004.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,055 shares of company stock valued at $1,232,139. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on HUBB shares. Wells Fargo & Company dropped their price objective on shares of 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 assumed coverage on shares of Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Barclays reduced their price objective on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Finally, Mizuho lifted their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $386.57.

Hubbell Stock Down 0.7 %

Shares of NYSE:HUBB opened at $377.39 on Friday. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The company has a 50 day moving average of $390.40 and a 200-day moving average of $370.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The stock has a market cap of $20.26 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 1.47 and a beta of 0.94.

Hubbell (NYSE:HUBB) last released its quarterly earnings data 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 net margin of 13.23% and a return on equity of 29.55%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm earned $3.61 EPS. Hubbell’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Friday, May 31st. Hubbell’s payout ratio is currently 36.39%.

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.