Hubbell Incorporated (NYSE:HUBB) is Werlinich Asset Management LLC’s 2nd Largest Position

Werlinich Asset Management LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,684 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Hubbell makes up approximately 6.7% of Werlinich Asset Management LLC’s holdings, making the stock its 2nd biggest position. Werlinich Asset Management LLC’s holdings in Hubbell were worth $10,216,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in Hubbell by 32,734.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after buying an additional 1,468,463 shares during the period. Vanguard Group Inc. increased its stake in Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after purchasing an additional 918,808 shares during the period. Norges Bank purchased a new position in shares of Hubbell during the fourth quarter valued at $143,024,000. Massachusetts Financial Services Co. MA increased its stake in shares of Hubbell by 24.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after buying an additional 248,493 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in shares of Hubbell by 575.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock valued at $94,793,000 after buying an additional 245,536 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the sale, the insider now owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Hubbell news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the sale, the insider now owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Neal J. Keating acquired 500 shares of Hubbell stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $378.77 per share, with a total value of $189,385.00. Following the completion of the purchase, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 3,055 shares of company stock valued at $1,232,139. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays cut their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock. Mizuho raised their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company cut their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $386.57.

Hubbell Stock Down 0.7 %

HUBB stock traded down $2.68 during trading on Friday, reaching $377.39. 736,091 shares of the company traded hands, compared to its average volume of 479,242. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The business has a 50 day simple moving average of $390.40 and a 200 day simple moving average of $370.17. The company has a market capitalization of $20.26 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 1.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company earned $3.61 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, May 31st. Hubbell’s dividend payout ratio is presently 36.39%.

Hubbell Company 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.