Hubbell Incorporated (NYSE:HUBB) Position Cut by Sienna Gestion

Sienna Gestion lowered its position in shares of Hubbell Incorporated (NYSE:HUBB) by 43.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,291 shares of the industrial products company’s stock after selling 10,209 shares during the period. Sienna Gestion’s holdings in Hubbell were worth $4,855,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of HUBB. Seven Eight Capital LP increased its position in Hubbell by 333.3% in the 2nd quarter. Seven Eight Capital LP now owns 15,312 shares of the industrial products company’s stock valued at $5,596,000 after acquiring an additional 11,778 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Hubbell by 6.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,584 shares of the industrial products company’s stock valued at $3,130,000 after purchasing an additional 543 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Hubbell by 2.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,578 shares of the industrial products company’s stock valued at $4,232,000 after purchasing an additional 297 shares in the last quarter. Virtu Financial LLC raised its stake in shares of Hubbell by 554.1% during the second quarter. Virtu Financial LLC now owns 9,858 shares of the industrial products company’s stock valued at $3,603,000 after purchasing an additional 8,351 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in Hubbell in the 2nd quarter valued at about $2,781,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 0.3 %

Shares of Hubbell stock opened at $409.86 on Thursday. 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 Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61. The firm has a market capitalization of $22.00 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The stock’s fifty day moving average is $380.00 and its 200-day moving average is $388.15.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.07 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Insider Activity

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The stock was 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 owns 66,415 shares in the company, valued at $24,861,791.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley began coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

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.