Westwood Holdings Group Inc. Reduces Holdings in Hubbell Incorporated (NYSE:HUBB)

Westwood Holdings Group Inc. trimmed its stake in Hubbell Incorporated (NYSE:HUBB) by 20.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,823 shares of the industrial products company’s stock after selling 48,748 shares during the period. Westwood Holdings Group Inc. owned approximately 0.35% of Hubbell worth $25,014,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Hubbell by 6.8% during the second quarter. BlackRock Inc. now owns 6,341,754 shares of the industrial products company’s stock worth $826,962,000 after purchasing an additional 401,473 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Hubbell by 0.5% during the second quarter. Vanguard Group Inc. now owns 5,558,703 shares of the industrial products company’s stock worth $724,855,000 after acquiring an additional 29,729 shares during the last quarter. American Century Companies Inc. grew its position in shares of Hubbell by 3.6% during the first quarter. American Century Companies Inc. now owns 4,625,574 shares of the industrial products company’s stock worth $545,725,000 after acquiring an additional 161,847 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Hubbell by 1.6% during the second quarter. JPMorgan Chase & Co. now owns 1,065,304 shares of the industrial products company’s stock worth $136,828,000 after acquiring an additional 17,257 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Hubbell by 29.4% during the second quarter. Bank of New York Mellon Corp now owns 1,002,921 shares of the industrial products company’s stock worth $130,781,000 after acquiring an additional 227,905 shares during the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Kevin Arthur Poyck sold 1,828 shares of Hubbell stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $127.66, for a total value of $233,362.48. Following the sale, the insider now owns 19,822 shares of the company’s stock, valued at $2,530,476.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen M. Mais sold 2,000 shares of Hubbell stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $127.41, for a total transaction of $254,820.00. Following the completion of the sale, the vice president now directly owns 14,784 shares in the company, valued at approximately $1,883,629.44. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Several research analysts have issued reports on the stock. Morgan Stanley set a $138.00 price objective on shares of Hubbell and gave the stock a “hold” rating in a research report on Wednesday, July 31st. G.Research reissued a “buy” rating on shares of Hubbell in a research report on Wednesday, August 21st. Stephens started coverage on shares of Hubbell in a research report on Monday, July 8th. They set an “overweight” rating and a $140.00 price objective on the stock. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, Gabelli started coverage on Hubbell in a report on Wednesday, August 21st. They set a “buy” rating and a $160.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $144.33.

Shares of HUBB stock traded down $0.21 during midday trading on Friday, hitting $131.20. The company had a trading volume of 566,732 shares, compared to its average volume of 248,653. The company’s 50 day simple moving average is $129.13 and its 200 day simple moving average is $124.81. Hubbell Incorporated has a 52-week low of $91.88 and a 52-week high of $137.97. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.77 and a beta of 1.47. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.98 and a quick ratio of 1.22.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Hubbell had a net margin of 8.03% and a return on equity of 23.63%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm posted $2.09 EPS. Hubbell’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Hubbell Incorporated will post 8.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.84 dividend. The ex-dividend date was Thursday, August 29th. This represents a $3.36 dividend on an annualized basis and a yield of 2.56%. Hubbell’s dividend payout ratio (DPR) is 46.09%.

Hubbell Profile

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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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