Chicago Capital LLC Reduces Holdings in Hubbell Incorporated (NYSE:HUBB)

Chicago Capital LLC cut its stake in Hubbell Incorporated (NYSE:HUBB) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,615 shares of the industrial products company’s stock after selling 221 shares during the period. Chicago Capital LLC’s holdings in Hubbell were worth $2,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in shares of Hubbell by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after purchasing an additional 6,275 shares during the last quarter. IFG Advisory LLC acquired a new stake in shares of Hubbell in the second quarter valued at approximately $475,000. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Hubbell by 81.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock valued at $22,565,000 after acquiring an additional 24,321 shares during the period. New Mexico Educational Retirement Board grew its position in shares of Hubbell by 304.6% during the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock worth $4,685,000 after acquiring an additional 8,497 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new position in shares of Hubbell in the 1st quarter valued at $1,868,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $456.81 on Friday. The firm has a market capitalization of $24.52 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The business’s 50 day simple moving average is $408.72 and its 200-day simple moving average is $393.51. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $461.77.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $4.07 earnings per share. Hubbell’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.07%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Analyst Ratings Changes

Several research analysts have issued reports on HUBB shares. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Wells Fargo & Company lifted their target price on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Stephens restated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $428.13.

Insider Buying and Selling

In other news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.