Ameritas Investment Partners Inc. Sells 43 Shares of Hubbell Incorporated (NYSE:HUBB)

Ameritas Investment Partners Inc. trimmed its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,755 shares of the industrial products company’s stock after selling 43 shares during the period. Ameritas Investment Partners Inc.’s holdings in Hubbell were worth $1,974,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nvwm LLC acquired a new stake in shares of Hubbell in the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its position 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 acquiring an additional 74 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 51 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Hubbell in the fourth quarter valued at approximately $33,000. Finally, Principal Securities Inc. bought a new stake in shares of Hubbell in the fourth quarter worth $40,000. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

NYSE HUBB traded down $16.00 during trading on Wednesday, reaching $363.60. 275,103 shares of the company’s stock were exchanged, compared to its average volume of 457,409. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The stock has a market capitalization of $19.52 billion, a P/E ratio of 28.30, a PEG ratio of 1.40 and a beta of 0.90. The business has a 50 day moving average price of $381.39 and a 200-day moving average price of $378.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the business earned $3.61 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts forecast that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.88 annualized dividend and a yield of 1.34%. Hubbell’s dividend payout ratio is currently 36.39%.

Wall Street Analyst Weigh In

HUBB has been the topic of several recent research reports. Barclays lowered their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

Insiders Place Their Bets

In other news, Director Neal J. Keating bought 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the purchase, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the sale, the insider now owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neal J. Keating bought 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the transaction, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The disclosure for this purchase can be found here. Insiders sold 3,055 shares of company stock worth $1,232,139 over the last three months. Insiders own 0.66% of the company’s stock.

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.