Public Employees Retirement Association of Colorado Trims Stock Position in Hubbell Incorporated (NYSE:HUBB)

Public Employees Retirement Association of Colorado cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 5.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,902 shares of the industrial products company’s stock after selling 360 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Hubbell were worth $2,450,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. increased its position in shares of Hubbell by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 30 shares during the last quarter. Xponance Inc. raised its position in Hubbell by 0.4% in the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock valued at $3,006,000 after purchasing an additional 36 shares during the period. Tectonic Advisors LLC lifted its stake in Hubbell by 4.0% during the first quarter. Tectonic Advisors LLC now owns 946 shares of the industrial products company’s stock worth $393,000 after purchasing an additional 36 shares in the last quarter. Tevis Investment Management lifted its stake in Hubbell by 4.6% during the first quarter. Tevis Investment Management now owns 901 shares of the industrial products company’s stock worth $374,000 after purchasing an additional 40 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of Hubbell by 0.4% during the first quarter. Czech National Bank now owns 9,435 shares of the industrial products company’s stock worth $3,916,000 after buying an additional 42 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other news, Director Neal J. Keating acquired 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Hubbell news, Director Neal J. Keating bought 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 1,942 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,055 shares of company stock valued at $1,232,139. Insiders own 0.66% of the company’s stock.

Hubbell Trading Up 0.7 %

HUBB opened at $369.50 on Tuesday. The business has a fifty day moving average price of $378.59 and a 200 day moving average price of $379.62. 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 Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a market capitalization of $19.84 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.36 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $4.07 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts expect that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HUBB. Barclays cut their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Wells Fargo & Company dropped their target price 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.57.

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.