Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,100 shares of the industrial products company’s stock after acquiring an additional 130 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Hubbell were worth $1,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Calamos Advisors LLC bought a new position in Hubbell in the 1st quarter worth about $601,000. Norges Bank bought a new position in Hubbell in the 4th quarter worth about $34,205,000. CENTRAL TRUST Co grew its position in Hubbell by 125.0% in the 2nd quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 200 shares during the last quarter. Jacobs & Co. CA bought a new position in Hubbell in the 1st quarter worth about $3,047,000. Finally, Crossmark Global Holdings Inc. grew its position in Hubbell by 7.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 5,737 shares of the industrial products company’s stock worth $677,000 after purchasing an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.

In related news, VP Stephen M. Mais sold 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $127.41, for a total transaction of $254,820.00. Following the completion of the sale, the vice president now directly owns 14,784 shares of the company’s stock, valued at $1,883,629.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kevin Arthur Poyck sold 247 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $122.00, for a total transaction of $30,134.00. Following the sale, the insider now directly owns 15,572 shares of the company’s stock, valued at $1,899,784. The disclosure for this sale can be found here. Insiders sold 4,075 shares of company stock valued at $518,316 over the last quarter. Insiders own 2.20% of the company’s stock.



Several research analysts have commented on the stock. Stephens assumed coverage on shares of Hubbell in a research report on Monday, July 8th. They issued an “overweight” rating and a $140.00 target price for the company. Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Morgan Stanley set a $138.00 target price on shares of Hubbell and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $141.20.

Shares of Hubbell stock traded down $3.19 on Wednesday, hitting $124.07. The company had a trading volume of 36,967 shares, compared to its average volume of 331,722. The business has a 50-day simple moving average of $127.56. The company has a current ratio of 1.98, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.89 billion, a P/E ratio of 17.02, a PEG ratio of 1.57 and a beta of 1.48. Hubbell Incorporated has a 52 week low of $91.88 and a 52 week high of $137.67.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Hubbell had a net margin of 8.03% and a return on equity of 23.63%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $2.09 earnings per share. On average, equities analysts expect that Hubbell Incorporated will post 8.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 46.09%.

Hubbell Profile

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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