Hubbell Incorporated (NYSE:HUBB) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,116 shares of the industrial products company's stock after selling 1,858 shares during the quarter. Gabelli Funds LLC's holdings in Hubbell were worth $8,083,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HUBB. CWM LLC increased its position in Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company's stock valued at $482,000 after buying an additional 28 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of Hubbell by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company's stock valued at $339,000 after purchasing an additional 30 shares during the last quarter. Detalus Advisors LLC raised its position in shares of Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 30 shares during the last quarter. Savant Capital LLC boosted its stake in Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company's stock worth $440,000 after purchasing an additional 31 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company's stock worth $67,000 after purchasing an additional 35 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HUBB shares. Barclays lowered their price objective on shares of Hubbell from $384.00 to $368.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 31st. Stephens reaffirmed an "overweight" rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised Hubbell from a "hold" rating to a "buy" rating and increased their price objective for the company from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company lifted their target price on Hubbell from $397.00 to $400.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Hubbell presently has an average rating of "Moderate Buy" and an average target price of $404.88.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company's stock, valued at $608,781.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Hubbell Stock Performance

HUBB stock traded down $1.73 during trading on Tuesday, hitting $424.86. 322,792 shares of the company traded hands, compared to its average volume of 453,760. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $433.03. The company has a market cap of $22.81 billion, a PE ratio of 31.83, a P/E/G ratio of 1.44 and a beta of 0.90. The stock's 50-day simple moving average is $382.83 and its 200 day simple moving average is $388.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.07 EPS. On average, equities analysts expect that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell's dividend payout ratio (DPR) is presently 36.39%.

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.