Natixis Advisors L.P. Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Natixis Advisors L.P. trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 15.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,489 shares of the industrial products company’s stock after selling 3,764 shares during the period. Natixis Advisors L.P.’s holdings in Hubbell were worth $6,739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its holdings in Hubbell by 127.5% during 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 during the period. Baillie Gifford & Co. purchased a new position in Hubbell during the 4th quarter valued at about $33,000. Sentry Investment Management LLC purchased a new position in Hubbell during the 4th quarter valued at about $91,000. Grove Bank & Trust boosted its holdings in Hubbell by 14.3% during the 3rd quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 50 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Hubbell by 43.2% during the 4th quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 128 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neal J. Keating bought 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the acquisition, the director now owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. Corporate insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on HUBB shares. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho increased their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Barclays reduced their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company reduced their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and an average target price of $386.57.

Hubbell Trading Up 3.2 %

NYSE HUBB opened at $408.91 on Friday. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The company has a market capitalization of $21.93 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. 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 firm’s fifty day moving average price is $400.01 and its 200 day moving average price is $348.25.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.61 earnings per share. On average, sell-side analysts expect that Hubbell Incorporated will post 16.35 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $1.22 per share. The ex-dividend date is Thursday, May 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.19%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

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.