CANADA LIFE ASSURANCE Co Sells 1,041 Shares of Hubbell Incorporated (NYSE:HUBB)

CANADA LIFE ASSURANCE Co decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,438 shares of the industrial products company’s stock after selling 1,041 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.07% of Hubbell worth $15,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of HUBB. International Assets Investment Management LLC boosted its holdings in shares of Hubbell by 32,734.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after purchasing an additional 1,468,463 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after buying an additional 918,808 shares in the last quarter. Norges Bank purchased a new stake in Hubbell in the 4th quarter worth about $143,024,000. Massachusetts Financial Services Co. MA raised its position in Hubbell by 24.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock worth $417,267,000 after purchasing an additional 248,493 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in Hubbell by 575.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after purchasing an additional 245,536 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of Hubbell stock traded up $0.15 during trading on Thursday, hitting $357.13. 512,421 shares of the company’s stock were exchanged, compared to its average volume of 460,567. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. The business has a 50-day simple moving average of $380.43 and a 200-day simple moving average of $378.46. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.40 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted 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. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. Hubbell’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.61 earnings per share. On average, research analysts forecast that Hubbell Incorporated will post 16.33 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a yield of 1.37%. Hubbell’s payout ratio is presently 36.39%.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the transaction, the insider now directly owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark Eugene Mikes sold 1,942 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now directly owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the sale, the insider now directly owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,055 shares of company stock worth $1,232,139. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

Hubbell Company 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.