Cerity Partners LLC Sells 348 Shares of Hubbell Inc (NYSE:HUBB)

Cerity Partners LLC decreased its stake in shares of Hubbell Inc (NYSE:HUBB) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,240 shares of the industrial products company’s stock after selling 348 shares during the period. Cerity Partners LLC’s holdings in Hubbell were worth $2,396,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HUBB. Envestnet Portfolio Solutions Inc. boosted its holdings in Hubbell by 2.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,348 shares of the industrial products company’s stock worth $984,000 after purchasing an additional 63 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Hubbell by 32.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 11,094 shares of the industrial products company’s stock worth $4,948,000 after purchasing an additional 2,713 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Hubbell by 27,400.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 275 shares of the industrial products company’s stock worth $115,000 after purchasing an additional 274 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Hubbell during the fourth quarter worth $210,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 1.5%

Shares of NYSE HUBB opened at $430.83 on Friday. The company has a market capitalization of $22.99 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 1.51 and a beta of 0.99. Hubbell Inc has a 52-week low of $299.43 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. The company’s 50 day moving average price is $399.79 and its 200-day moving average price is $382.91.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm posted $3.60 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.23%. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HUBB shares. Barclays boosted their price objective on shares of Hubbell from $414.00 to $420.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Wells Fargo & Company set a $420.00 target price on shares of Hubbell and gave the stock an “equal weight” rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $456.25.

Insiders Place Their Bets

In related news, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director owned 1,727 shares in the company, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.