Hsbc Holdings PLC Trims Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Hsbc Holdings PLC reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,404 shares of the industrial products company’s stock after selling 1,655 shares during the period. Hsbc Holdings PLC owned 0.21% of Hubbell worth $41,063,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HUBB. CWM LLC increased its stake in Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after buying an additional 28 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in Hubbell by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 30 shares during the period. Detalus Advisors LLC raised its stake in Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 30 shares during the period. Savant Capital LLC lifted its holdings in Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 31 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Hubbell by 23.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Barclays decreased their price target on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley initiated coverage on Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company. Wells Fargo & Company boosted their target price on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and raised their price target for the company from $431.00 to $441.00 in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Hubbell Stock Up 0.8 %

Shares of HUBB opened at $426.01 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $381.79 and a 200 day moving average of $388.65. The company has a market cap of $22.87 billion, a PE ratio of 31.77, a P/E/G ratio of 1.44 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last released its quarterly 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 net margin of 13.14% and a return on equity of 28.98%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $4.07 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Activity at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 completion of the sale, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $608,781.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.