Hubbell Incorporated (NYSE:HUBB) Shares Sold by American International Group Inc.

American International Group Inc. cut its position in Hubbell Incorporated (NYSE:HUBBGet Rating) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,012 shares of the industrial products company’s stock after selling 1,640 shares during the period. American International Group Inc. owned approximately 0.17% of Hubbell worth $19,163,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in Hubbell during the fourth quarter valued at approximately $28,000. Concord Wealth Partners increased its holdings in shares of Hubbell by 173.8% during the 4th quarter. Concord Wealth Partners now owns 167 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 106 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Hubbell during the 4th quarter valued at approximately $36,000. Covestor Ltd purchased a new stake in Hubbell in the 4th quarter worth $46,000. Finally, Quadrant Capital Group LLC increased its holdings in Hubbell by 27.1% in the 4th quarter. Quadrant Capital Group LLC now owns 385 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 82 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, April 30th. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a report on Tuesday, February 15th. Wells Fargo & Company upped their price objective on shares of Hubbell from $181.00 to $200.00 in a report on Thursday, April 28th. Morgan Stanley upped their target price on shares of Hubbell from $198.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, April 7th. Finally, Mizuho decreased their target price on shares of Hubbell from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, February 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Hubbell has an average rating of “Hold” and an average price target of $207.00.

HUBB stock opened at $187.44 on Tuesday. Hubbell Incorporated has a 12 month low of $170.76 and a 12 month high of $212.54. The company’s 50 day simple moving average is $189.48 and its 200-day simple moving average is $193.72. The firm has a market capitalization of $10.06 billion, a PE ratio of 20.44, a P/E/G ratio of 2.03 and a beta of 1.13. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.00 and a quick ratio of 1.27.

Hubbell (NYSE:HUBBGet Rating) last released its earnings results on Tuesday, April 26th. The industrial products company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.86 by $0.26. Hubbell had a return on equity of 21.89% and a net margin of 10.77%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm posted $1.72 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 9.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, May 27th. Hubbell’s dividend payout ratio is currently 45.80%.

In other Hubbell news, Director Carlos M. Cardoso sold 749 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $193.73, for a total transaction of $145,103.77. Following the sale, the director now owns 1,744 shares in the company, valued at $337,865.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

About Hubbell (Get Rating)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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