Hubbell Incorporated (NYSE:HUBB) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lowered its position in shares of Hubbell Incorporated (NYSE:HUBB) by 78.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 644 shares of the industrial products company’s stock after selling 2,391 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Hubbell were worth $212,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Panagora Asset Management Inc. raised its stake in shares of Hubbell by 87.6% in the 1st quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company’s stock valued at $997,000 after acquiring an additional 2,533 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Hubbell by 9.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company’s stock valued at $6,006,000 after acquiring an additional 2,736 shares during the period. Blair William & Co. IL raised its stake in shares of Hubbell by 0.5% in the 1st quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock valued at $4,224,000 after acquiring an additional 120 shares during the period. Vanguard Group Inc. raised its stake in shares of Hubbell by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock valued at $1,002,421,000 after acquiring an additional 23,865 shares during the period. Finally, Covestor Ltd raised its stake in shares of Hubbell by 137.3% in the 1st quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 302 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HUBB shares. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays lifted their price target on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock. Mizuho lifted their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company lifted their price target on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $383.57.

Insider Activity

In other news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the completion of the transaction, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The disclosure for this sale can be found here. In the last three months, insiders sold 34,125 shares of company stock valued at $12,065,100. Company insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of HUBB stock opened at $392.45 on Friday. The firm has a market cap of $21.05 billion, a P/E ratio of 27.93, a P/E/G ratio of 2.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. Hubbell Incorporated has a 1-year low of $229.09 and a 1-year high of $429.61. The firm has a fifty day moving average of $390.63 and a two-hundred day moving average of $338.46.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $2.60 EPS. As a group, research analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

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.