Desjardins Global Asset Management Inc. Has $212,000 Stock Position in Hubbell Incorporated (NYSE:HUBB)

Desjardins Global Asset Management Inc. trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 78.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 644 shares of the industrial products company’s stock after selling 2,391 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Hubbell were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. First Manhattan Co. acquired a new position in Hubbell during the 1st quarter valued at $28,000. Baillie Gifford & Co. acquired a new position in Hubbell during the 4th quarter valued at $33,000. Atlas Capital Advisors LLC acquired a new position in Hubbell during the 4th quarter valued at $40,000. Coppell Advisory Solutions Corp. acquired a new position in Hubbell during the 4th quarter valued at $47,000. Finally, Coppell Advisory Solutions LLC acquired a new position in Hubbell during the 2nd quarter valued at $50,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 0.4 %

HUBB opened at $392.45 on Friday. The firm’s 50-day simple moving average is $390.63 and its 200-day simple moving average is $338.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. Hubbell Incorporated has a twelve month low of $229.09 and a twelve month high of $429.61. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.38 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Wednesday, February 28th. Hubbell’s payout ratio is 34.73%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the sale, the insider now owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the sale, the insider now owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the sale, the chief executive officer now directly owns 51,783 shares in the company, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock valued at $12,065,100 in the last 90 days. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HUBB shares. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays boosted their price target on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Mizuho boosted their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average target price of $383.57.

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.