Hubbell Inc (NYSE:HUBB) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Hubbell Inc (NYSE:HUBB) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,242 shares of the industrial products company’s stock after selling 189 shares during the period. Mutual of America Capital Management LLC’s holdings in Hubbell were worth $2,066,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV raised its stake in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 30 shares during the period. Tsfg LLC purchased a new position in shares of Hubbell in the 1st quarter valued at $30,000. Johnson Financial Group Inc. raised its stake in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 65 shares during the period. NBC Securities Inc. purchased a new position in shares of Hubbell in the 1st quarter valued at $49,000. Finally, CX Institutional purchased a new position in shares of Hubbell in the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hubbell Trading Down 1.5%

Hubbell stock opened at $430.83 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $399.79 and a two-hundred day moving average price of $382.91. The firm has a market capitalization of $22.99 billion, a price-to-earnings ratio of 29.15, a PEG 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.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.23%. Hubbell’s payout ratio is currently 35.72%.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

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.