Cambridge Investment Research Advisors Inc. Sells 995 Shares of Hubbell Inc (NYSE:HUBB)

Cambridge Investment Research Advisors Inc. reduced its stake in shares of Hubbell Inc (NYSE:HUBB) by 23.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,269 shares of the industrial products company’s stock after selling 995 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Hubbell were worth $1,082,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HUBB. Norges Bank bought a new position in Hubbell during the 4th quarter worth $195,218,000. Marshall Wace LLP raised its position in shares of Hubbell by 418.1% in the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock worth $128,620,000 after acquiring an additional 247,786 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in shares of Hubbell in the 4th quarter worth about $95,868,000. GAMMA Investing LLC raised its position in shares of Hubbell by 52,429.8% in the 1st quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company’s stock worth $636,200,000 after acquiring an additional 191,893 shares in the last quarter. Finally, PointState Capital LP bought a new position in shares of Hubbell in the 4th quarter worth about $78,443,000. 88.16% of the stock is owned by institutional investors.

Hubbell Price Performance

HUBB stock opened at $414.82 on Friday. Hubbell Inc has a 52-week low of $299.43 and a 52-week high of $481.35. The business has a 50-day simple moving average of $386.64 and a two-hundred day simple moving average of $383.25. The company has a market capitalization of $22.14 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17.

Hubbell (NYSE:HUBB) last announced its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm earned $3.60 EPS. Hubbell’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $1.32 dividend. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.27%. Hubbell’s payout ratio is presently 35.72%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company set a $420.00 price objective on Hubbell and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price objective on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Finally, Barclays lifted their price objective on Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $455.50.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the sale, the chief executive officer owned 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the sale, the director directly owned 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.