Hubbell Incorporated (NYSE:HUBB) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 269,836 shares of the industrial products company's stock after selling 26,468 shares during the period. Point72 Asset Management L.P. owned approximately 0.50% of Hubbell worth $98,620,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Nvwm LLC bought a new position in shares of Hubbell in the 1st quarter valued at about $25,000. Quarry LP bought a new stake in shares of Hubbell in the 2nd quarter valued at approximately $49,000. Riverview Trust Co purchased a new position in shares of Hubbell in the 1st quarter worth approximately $52,000. Northwest Investment Counselors LLC bought a new position in shares of Hubbell during the 1st quarter valued at approximately $56,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell during the 2nd quarter valued at $62,000. Institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

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

Hubbell Stock Down 0.0 %

Shares of HUBB traded down $0.13 during midday trading on Monday, reaching $428.35. 466,359 shares of the stock were exchanged, compared to its average volume of 452,259. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company's 50 day moving average is $387.00 and its two-hundred day moving average is $389.86. The company has a market capitalization of $23.00 billion, a P/E ratio of 31.93, a PEG ratio of 1.56 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $433.03.

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

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.14%. Hubbell's dividend payout ratio (DPR) is presently 36.39%.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the 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 directly owns 66,415 shares of the company's stock, valued at $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Carlos M. Cardoso sold 450 shares of the company's stock in a transaction dated 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 directly owns 1,670 shares of the company's stock, valued at approximately $608,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerben Bakker sold 15,677 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 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.