State Board of Administration of Florida Retirement System Sells 4,335 Shares of Hubbell Incorporated (NYSE:HUBB)

State Board of Administration of Florida Retirement System cut its stake in Hubbell Incorporated (NYSE:HUBBFree Report) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,518 shares of the industrial products company’s stock after selling 4,335 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.10% of Hubbell worth $17,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Hubbell by 1.7% during the 1st quarter. BlackRock Inc. now owns 5,457,568 shares of the industrial products company’s stock worth $1,327,881,000 after buying an additional 89,491 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Hubbell by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock worth $1,002,421,000 after buying an additional 23,865 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Hubbell by 0.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,744,482 shares of the industrial products company’s stock worth $909,961,000 after buying an additional 13,280 shares during the last quarter. State Street Corp boosted its stake in shares of Hubbell by 2.1% during the 1st quarter. State Street Corp now owns 1,753,314 shares of the industrial products company’s stock worth $426,599,000 after buying an additional 35,752 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Hubbell by 133.8% during the 1st quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock worth $283,646,000 after buying an additional 883,272 shares during the last quarter. 85.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $375.00 target price on shares of Hubbell in a research note on Wednesday, November 1st. Wells Fargo & Company raised their target price on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Barclays raised their target price on shares of Hubbell from $330.00 to $340.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. TD Cowen initiated coverage on shares of Hubbell in a research note on Friday, December 8th. They issued an “outperform” rating and a $338.00 target price for the company. Finally, JPMorgan Chase & Co. raised shares of Hubbell from a “neutral” rating to an “overweight” rating and increased their price target for the company from $333.00 to $335.00 in a report on Friday, November 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average target price of $353.00.

Get Our Latest Stock Analysis on HUBB

Hubbell Stock Up 1.3 %

Shares of HUBB opened at $363.01 on Monday. Hubbell Incorporated has a 12 month low of $219.77 and a 12 month high of $363.36. The firm’s 50 day moving average is $327.97 and its 200-day moving average is $312.40. The stock has a market capitalization of $19.46 billion, a PE ratio of 25.84, a P/E/G ratio of 2.21 and a beta of 0.92. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Hubbell (NYSE:HUBBGet Free Report) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.58 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $2.60 earnings per share. Equities research analysts forecast that Hubbell Incorporated will post 16.39 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 29th will be given a $1.22 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a yield of 1.34%. Hubbell’s dividend payout ratio is currently 34.73%.

Insider Buying and Selling at Hubbell

In related news, Director John F. Malloy bought 797 shares of the business’s stock in a transaction on Monday, December 11th. The shares were purchased at an average price of $313.50 per share, for a total transaction of $249,859.50. Following the completion of the transaction, the director now directly owns 17,923 shares of the company’s stock, valued at approximately $5,618,860.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director John F. Malloy bought 797 shares of the business’s stock in a transaction on Monday, December 11th. The shares were purchased at an average price of $313.50 per share, for a total transaction of $249,859.50. Following the completion of the transaction, the director now directly owns 17,923 shares of the company’s stock, valued at approximately $5,618,860.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the transaction, the vice president now owns 3,646 shares in the company, valued at approximately $1,286,090.04. The disclosure for this sale can be found here. Insiders have sold 31,891 shares of company stock worth $11,262,870 over the last quarter. Corporate insiders own 0.66% of the company’s stock.

Hubbell Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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