First Hawaiian Bank Sells 396 Shares of Hubbell Incorporated (NYSE:HUBB)

First Hawaiian Bank reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,589 shares of the industrial products company’s stock after selling 396 shares during the period. First Hawaiian Bank’s holdings in Hubbell were worth $1,522,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HUBB. Edmonds Duncan Registered Investment Advisors LLC bought a new stake in Hubbell in the second quarter worth about $257,000. Fulton Bank N.A. raised its position in Hubbell by 14.3% in the second quarter. Fulton Bank N.A. now owns 2,084 shares of the industrial products company’s stock worth $691,000 after acquiring an additional 261 shares during the period. DnB Asset Management AS raised its position in Hubbell by 6.7% in the second quarter. DnB Asset Management AS now owns 77,913 shares of the industrial products company’s stock worth $25,833,000 after acquiring an additional 4,900 shares during the period. ProShare Advisors LLC raised its position in Hubbell by 4,246.3% in the first quarter. ProShare Advisors LLC now owns 151,946 shares of the industrial products company’s stock worth $36,970,000 after acquiring an additional 148,450 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Hubbell by 34.5% in the first quarter. Ameriprise Financial Inc. now owns 224,640 shares of the industrial products company’s stock worth $54,657,000 after acquiring an additional 57,566 shares during the period. 85.97% of the stock is owned by institutional investors.

Hubbell Stock Performance

NYSE HUBB opened at $315.85 on Friday. The company’s 50 day moving average is $319.07 and its 200-day moving average is $287.52. The firm has a market cap of $16.94 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98. Hubbell Incorporated has a 12-month low of $209.96 and a 12-month high of $340.06. 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 (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.63 by $0.44. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Hubbell had a net margin of 12.55% and a return on equity of 29.48%. Hubbell’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.81 earnings per share. Sell-side analysts predict that Hubbell Incorporated will post 15.32 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $4.48 annualized dividend and a yield of 1.42%. Hubbell’s dividend payout ratio is currently 37.24%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several research reports. Wolfe Research raised shares of Hubbell from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 11th. Mizuho boosted their price target on shares of Hubbell from $300.00 to $370.00 in a research report on Wednesday, July 26th. StockNews.com initiated coverage on shares of Hubbell in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Hubbell from $287.00 to $318.00 in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $265.17.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 5,895 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $314.12, for a total transaction of $1,851,737.40. Following the completion of the transaction, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $16,266,075.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Hubbell news, CFO William R. Sperry sold 4,040 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 52,773 shares of the company’s stock, valued at approximately $16,555,945.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gerben Bakker sold 5,895 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $314.12, for a total transaction of $1,851,737.40. Following the completion of the transaction, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at approximately $16,266,075.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,228 shares of company stock valued at $3,839,856. Corporate insiders own 0.66% of the company’s stock.

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.