Ontario Teachers Pension Plan Board cut its stake in shares of Hubbell Incorporated (NYSE:HUBB – Free Report) by 9.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 12,600 shares of the industrial products company’s stock after selling 1,353 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Hubbell were worth $3,066,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Panagora Asset Management Inc. lifted its holdings in Hubbell by 87.6% in the first quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company’s stock valued at $997,000 after acquiring an additional 2,533 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Hubbell by 9.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company’s stock valued at $6,006,000 after purchasing an additional 2,736 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Hubbell by 0.5% in the 1st quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock worth $4,224,000 after purchasing an additional 120 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Hubbell by 0.4% in the first quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock worth $1,002,421,000 after buying an additional 23,865 shares during the last quarter. Finally, Covestor Ltd grew its position in Hubbell by 137.3% during the first quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock valued at $96,000 after buying an additional 302 shares during the period. 85.97% of the stock is owned by institutional investors.
Insider Buying and Selling at Hubbell
In other Hubbell news, insider Alyssa R. Flynn sold 2,293 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $314.30, for a total transaction of $720,689.90. Following the completion of the transaction, the insider now owns 3,471 shares of the company’s stock, valued at approximately $1,090,935.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Alyssa R. Flynn sold 2,293 shares of Hubbell stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $314.30, for a total value of $720,689.90. Following the sale, the insider now directly owns 3,471 shares of the company’s stock, valued at $1,090,935.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William R. Sperry sold 4,040 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $313.72, for a total value of $1,267,428.80. Following the transaction, the chief financial officer now directly owns 52,773 shares of the company’s stock, valued at $16,555,945.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,228 shares of company stock worth $3,839,856. Insiders own 0.66% of the company’s stock.
Wall Street Analyst Weigh In
Hubbell Stock Performance
NYSE HUBB opened at $315.62 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.06 and a debt-to-equity ratio of 0.55. Hubbell Incorporated has a twelve month low of $209.96 and a twelve month high of $340.06. The business has a 50-day moving average price of $319.44 and a 200-day moving average price of $286.85. The firm has a market cap of $16.93 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98.
Hubbell (NYSE:HUBB – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $4.07 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.44. Hubbell had a return on equity of 29.48% and a net margin of 12.55%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm earned $2.81 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Hubbell Incorporated will post 15.32 EPS for the current fiscal year.
Hubbell Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 30th. This represents a $4.48 annualized dividend and a yield of 1.42%. Hubbell’s payout ratio is 37.24%.
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.
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