LPL Financial LLC Sells 3,662 Shares of Hubbell Inc (NYSE:HUBB)

LPL Financial LLC decreased its position in shares of Hubbell Inc (NYSE:HUBB) by 14.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,496 shares of the industrial products company’s stock after selling 3,662 shares during the quarter. LPL Financial LLC’s holdings in Hubbell were worth $7,113,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HUBB. Bank of New York Mellon Corp raised its position in shares of Hubbell by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company’s stock valued at $937,623,000 after purchasing an additional 7,142 shares during the period. Northern Trust Corp grew its stake in Hubbell by 16.4% in the 4th quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company’s stock valued at $217,032,000 after buying an additional 72,913 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hubbell by 6.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 399,421 shares of the industrial products company’s stock valued at $167,314,000 after acquiring an additional 25,534 shares during the period. Victory Capital Management Inc. raised its holdings in Hubbell by 20.0% during the 1st quarter. Victory Capital Management Inc. now owns 369,087 shares of the industrial products company’s stock valued at $122,135,000 after acquiring an additional 61,597 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Hubbell by 80.1% during the fourth quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company’s stock worth $140,876,000 after acquiring an additional 149,622 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on HUBB. JPMorgan Chase & Co. lifted their price target on Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wells Fargo & Company lifted their target price on Hubbell from $420.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Barclays increased their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $462.29.

Insiders Place Their Bets

In related news, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 1,727 shares in the company, valued at approximately $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the sale, the chief executive officer directly owned 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Hubbell Price Performance

Shares of NYSE HUBB opened at $418.86 on Monday. The firm has a market capitalization of $22.26 billion, a P/E ratio of 27.20, a P/E/G ratio of 2.34 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $411.87 and its two-hundred day simple moving average is $382.02. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. As a group, equities analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell’s payout ratio is currently 34.29%.

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.