Amalgamated Bank Reduces Holdings in Hubbell Incorporated (NYSE:HUBB)

Amalgamated Bank reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 49.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,231 shares of the industrial products company’s stock after selling 18,742 shares during the period. Amalgamated Bank’s holdings in Hubbell were worth $6,326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Hubbell by 1.7% during the third quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock valued at $1,810,812,000 after buying an additional 96,435 shares during the period. FMR LLC lifted its stake in shares of Hubbell by 2.9% during the 3rd quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock worth $803,572,000 after purchasing an additional 71,962 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the last quarter. Invesco Ltd. grew its position in shares of Hubbell by 10.7% in the third quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company’s stock valued at $374,538,000 after purchasing an additional 115,886 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Hubbell by 46.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock valued at $319,699,000 after purchasing an additional 323,116 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock opened at $379.89 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. The company has a market cap of $20.37 billion, a PE ratio of 28.33, a P/E/G ratio of 1.47 and a beta of 0.96. The company’s fifty day simple moving average is $398.06 and its 200-day simple moving average is $345.96. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the business earned $3.61 EPS. Hubbell’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Hubbell Incorporated will post 16.35 EPS for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Thursday, May 30th. Hubbell’s payout ratio is currently 36.39%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HUBB shares. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price target on the stock. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Wells Fargo & Company dropped their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st. Mizuho lifted 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. Finally, Barclays dropped their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $386.57.

Insider Buying and Selling

In related 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 in the company, valued at $1,780,541.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the sale, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,747 shares of company stock worth $1,693,364. Corporate insiders own 0.78% of the company’s stock.

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.