Element Capital Management LLC Cuts Stock Position in Hubbell Incorporated (NYSE:HUBB)

Element Capital Management LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,567 shares of the industrial products company’s stock after selling 854 shares during the quarter. Element Capital Management LLC’s holdings in Hubbell were worth $938,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Nvwm LLC purchased a new stake in Hubbell during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its position in shares of Hubbell by 1,850.0% during the fourth 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 in the last quarter. Principal Securities Inc. purchased a new stake in shares of Hubbell during the 4th quarter valued at $40,000. Riverview Trust Co acquired a new stake in shares of Hubbell in the 1st quarter worth $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in Hubbell during the 1st quarter worth $56,000. 88.16% of the stock is currently owned by institutional investors.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated 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 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. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HUBB shares. Barclays decreased their price target on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Morgan Stanley started coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the company from $431.00 to $441.00 in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $404.88.

Hubbell Trading Up 1.4 %

Shares of Hubbell stock opened at $404.63 on Friday. The stock has a market cap of $21.72 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The firm has a fifty day moving average price of $377.87 and a 200 day moving average price of $387.50. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $4.07 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.21%. Hubbell’s dividend payout ratio is presently 36.39%.

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.