Truist Financial Corp Has $4.76 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Truist Financial Corp trimmed its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,456 shares of the industrial products company’s stock after selling 189 shares during the quarter. Truist Financial Corp’s holdings in Hubbell were worth $4,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chevy Chase Trust Holdings LLC raised its stake in Hubbell by 265.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock worth $13,563,000 after buying an additional 29,959 shares during the period. Nordea Investment Management AB raised its stake in Hubbell by 119.0% during the 4th quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock worth $50,388,000 after buying an additional 83,581 shares during the period. PFG Advisors acquired a new position in Hubbell during the 4th quarter worth approximately $1,108,000. Raymond James Financial Services Advisors Inc. raised its stake in Hubbell by 117.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,456 shares of the industrial products company’s stock worth $6,729,000 after buying an additional 11,046 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. raised its stake in Hubbell by 23.9% during the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,096 shares of the industrial products company’s stock worth $5,623,000 after buying an additional 3,293 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HUBB shares. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Barclays decreased their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday. Wells Fargo & Company decreased their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Finally, Mizuho boosted their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,045 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $357.56, for a total transaction of $373,650.20. Following the completion of the transaction, the insider now directly owns 7,310 shares of the company’s stock, valued at $2,613,763.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 1,045 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $357.56, for a total transaction of $373,650.20. Following the sale, the insider now owns 7,310 shares in the company, valued at $2,613,763.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Katherine Anne Lane sold 1,468 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the sale, the vice president now owns 9,355 shares in the company, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,747 shares of company stock valued at $1,693,364. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

HUBB stock opened at $379.89 on Monday. The firm has a market cap of $20.37 billion, a PE ratio of 28.33, a P/E/G ratio of 1.47 and a beta of 0.96. The company has a quick ratio of 1.01, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average of $398.06 and a 200-day moving average of $345.96. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company earned $3.61 earnings per share. Hubbell’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts expect that Hubbell Incorporated will post 16.35 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

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.