Citizens Financial Group Inc. RI Sells 31 Shares of Hubbell Incorporated (NYSE:HUBB)

Citizens Financial Group Inc. RI decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 0.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,913 shares of the industrial products company’s stock after selling 31 shares during the period. Citizens Financial Group Inc. RI’s holdings in Hubbell were worth $3,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Hubbell by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock worth $137,622,000 after acquiring an additional 22,951 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Hubbell by 3.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after purchasing an additional 46,813 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Hubbell by 7.8% during the second quarter. Envestnet Asset Management Inc. now owns 69,492 shares of the industrial products company’s stock valued at $25,398,000 after buying an additional 5,037 shares during the period. Meeder Advisory Services Inc. grew its stake in shares of Hubbell by 23.9% during the second quarter. Meeder Advisory Services Inc. now owns 1,011 shares of the industrial products company’s stock valued at $370,000 after buying an additional 195 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Hubbell by 12.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 111,669 shares of the industrial products company’s stock worth $41,172,000 after buying an additional 12,442 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Up 1.0 %

Shares of HUBB opened at $408.82 on Tuesday. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $378.51 and its 200-day moving average price is $387.81. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 1.44 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $4.07 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.19%. Hubbell’s payout ratio is 36.39%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 completion of the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred 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 owns 66,415 shares in the company, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate 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.