Hubbell Incorporated (NYSE:HUBB) Shares Sold by Stephens Inc. AR

Posted by on Apr 8th, 2023

Stephens Inc. AR reduced its holdings in Hubbell Incorporated (NYSE:HUBB – Get Rating) by 57.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,373 shares of the industrial products company’s stock after selling 1,890 shares during the period. Stephens Inc. AR’s holdings in Hubbell were worth $322,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HUBB. CWM LLC boosted its stake in shares of Hubbell by 67.1% in the third quarter. CWM LLC now owns 264 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 106 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hubbell by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 540,352 shares of the industrial products company’s stock worth $120,494,000 after acquiring an additional 7,256 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Hubbell in the third quarter worth approximately $261,000. US Bancorp DE boosted its stake in shares of Hubbell by 1.9% in the third quarter. US Bancorp DE now owns 22,152 shares of the industrial products company’s stock worth $4,940,000 after acquiring an additional 409 shares during the last quarter. Finally, Gilman Hill Asset Management LLC acquired a new stake in shares of Hubbell in the third quarter worth approximately $223,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

NYSE:HUBB opened at $221.28 on Friday. Hubbell Incorporated has a 52 week low of $170.21 and a 52 week high of $263.30. The company has a quick ratio of 1.18, a current ratio of 1.86 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $11.86 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.05 and a beta of 1.00. The stock’s fifty day moving average is $241.73 and its two-hundred day moving average is $238.17.

Hubbell (NYSE:HUBB – Get Rating) last posted its earnings results on Tuesday, January 31st. The industrial products company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.19. Hubbell had a return on equity of 25.03% and a net margin of 11.40%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts expect that Hubbell Incorporated will post 11.27 EPS for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were issued a $1.12 dividend. The ex-dividend date was Monday, February 27th. This represents a $4.48 annualized dividend and a dividend yield of 2.02%. Hubbell’s dividend payout ratio is presently 43.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HUBB shares. UBS Group lowered Hubbell from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $254.00 to $225.00 in a research note on Wednesday, January 4th. StockNews.com assumed coverage on Hubbell in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Morgan Stanley lifted their price objective on Hubbell from $226.00 to $238.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. Wells Fargo & Company lifted their price objective on Hubbell from $221.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. Finally, JPMorgan Chase & Co. upgraded Hubbell from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $200.00 to $205.00 in a research report on Wednesday, February 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and an average target price of $230.00.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 9,350 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $240.80, for a total value of $2,251,480.00. Following the sale, the chief executive officer now owns 37,801 shares in the company, valued at approximately $9,102,480.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company’s stock.

About Hubbell

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Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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