Hubbell Incorporated (NYSE:HUBB) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 4.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 103,426 shares of the industrial products company’s stock after selling 5,364 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Hubbell were worth $37,800,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HUBB. Nvwm LLC acquired a new stake in shares of Hubbell in the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Hubbell during the fourth quarter worth $40,000. Riverview Trust Co acquired a new stake in shares of Hubbell in the first quarter valued at about $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Hubbell in the first quarter worth about $56,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price target on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays lowered their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, Morgan Stanley initiated coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $404.88.

Hubbell Stock Performance

NYSE HUBB opened at $392.87 on Thursday. The stock has a market cap of $21.09 billion, a PE ratio of 29.30, a P/E/G ratio of 1.40 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The stock has a fifty day simple moving average of $376.24 and a 200-day simple moving average of $386.99. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. Hubbell’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.07 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell 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.