Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBBGet Rating) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,349 shares of the industrial products company’s stock after selling 500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Hubbell were worth $1,351,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Hubbell by 3.3% during the first quarter. BlackRock Inc. now owns 4,750,264 shares of the industrial products company’s stock worth $872,956,000 after purchasing an additional 149,540 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Hubbell by 2.0% during the first quarter. Mutual of America Capital Management LLC now owns 49,612 shares of the industrial products company’s stock worth $9,117,000 after purchasing an additional 951 shares in the last quarter. State Street Corp boosted its position in Hubbell by 1.9% during the fourth quarter. State Street Corp now owns 1,432,197 shares of the industrial products company’s stock worth $298,284,000 after purchasing an additional 26,570 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Hubbell by 1.9% in the first quarter. Johnson Investment Counsel Inc. now owns 422,645 shares of the industrial products company’s stock valued at $77,669,000 after acquiring an additional 7,936 shares in the last quarter. Finally, Advisor Partners LLC lifted its position in shares of Hubbell by 20.4% in the first quarter. Advisor Partners LLC now owns 1,547 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 88.91% of the company’s stock.

Hubbell Stock Performance

Shares of Hubbell stock opened at $222.09 on Friday. Hubbell Incorporated has a one year low of $170.21 and a one year high of $232.47. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.28 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.31 and a current ratio of 2.03. The business’s 50 day moving average price is $213.24 and its 200 day moving average price is $196.18.

Hubbell (NYSE:HUBBGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.40. Hubbell had a return on equity of 22.61% and a net margin of 11.18%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $2.36 earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. On average, research analysts predict that Hubbell Incorporated will post 9.81 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $1.05 per share. The ex-dividend date was Tuesday, August 30th. This represents a $4.20 annualized dividend and a yield of 1.89%. Hubbell’s dividend payout ratio (DPR) is 43.34%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HUBB. JPMorgan Chase & Co. raised their target price on Hubbell from $175.00 to $200.00 in a research report on Thursday, July 28th. Morgan Stanley raised their target price on Hubbell from $190.00 to $206.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 27th. Wells Fargo & Company raised their target price on Hubbell to $196.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, StockNews.com upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Insiders Place Their Bets

In other Hubbell news, insider Allan Connolly sold 5,259 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $221.48, for a total transaction of $1,164,763.32. Following the completion of the sale, the insider now owns 6,400 shares of the company’s stock, valued at $1,417,472. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by insiders.

About Hubbell

(Get Rating)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

Further Reading

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBBGet Rating).

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.