Hubbell Incorporated (NYSE:HUBB) Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,087 shares of the industrial products company’s stock after selling 67 shares during the period. ELCO Management Co. LLC’s holdings in Hubbell were worth $950,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Glenview Trust Co increased its stake in Hubbell by 25.2% during the 2nd quarter. Glenview Trust Co now owns 1,746 shares of the industrial products company’s stock valued at $326,000 after buying an additional 351 shares during the period. JustInvest LLC acquired a new position in Hubbell during the 2nd quarter valued at about $217,000. Mercer Global Advisors Inc. ADV increased its stake in Hubbell by 1.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,536 shares of the industrial products company’s stock valued at $2,342,000 after buying an additional 184 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Hubbell by 22.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,988 shares of the industrial products company’s stock valued at $1,119,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Ethic Inc. bought a new position in shares of Hubbell during the 2nd quarter valued at about $235,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of HUBB traded down $3.74 during midday trading on Monday, hitting $181.74. The stock had a trading volume of 1,450 shares, compared to its average volume of 261,347. Hubbell Incorporated has a fifty-two week low of $131.09 and a fifty-two week high of $209.65. The business has a 50-day simple moving average of $198.43 and a two-hundred day simple moving average of $191.58. The firm has a market cap of $9.88 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.20. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 0.67.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 27th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.16 by $0.20. Hubbell had a net margin of 8.18% and a return on equity of 21.32%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company posted $1.87 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, analysts expect that Hubbell Incorporated will post 8.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, August 30th. Hubbell’s dividend payout ratio (DPR) is 51.72%.

Several equities analysts have recently weighed in on HUBB shares. Morgan Stanley raised their price objective on shares of Hubbell from $203.00 to $211.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 28th. Zacks Investment Research lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, September 10th.

Hubbell Profile

Hubbell, Inc engages in designing, manufacturing and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates though the following segments: Electrical and Utility Solutions. The Electrical segment manufactures and sells wiring and electrical, lighting fixtures and controls for indoor and outdoor applications as well as specialty lighting and communications products.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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