Hubbell Incorporated (NYSE:HUBB) Stock Position Cut by Guardian Wealth Management Inc.

Guardian Wealth Management Inc. cut its position in shares of Hubbell Incorporated (NYSE:HUBB) by 37.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 187 shares of the industrial products company’s stock after selling 111 shares during the quarter. Guardian Wealth Management Inc.’s holdings in Hubbell were worth $68,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after buying an additional 918,808 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after acquiring an additional 286,134 shares in the last quarter. FIL Ltd increased its position in Hubbell by 0.6% in the 4th quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock worth $366,925,000 after purchasing an additional 6,526 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after buying an additional 322,728 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Up 1.4 %

Shares of Hubbell stock opened at $404.63 on Friday. The firm has a market capitalization of $21.72 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.44 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 company’s fifty day moving average price is $377.87 and its two-hundred day moving average price is $387.36. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $4.07 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts expect that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated 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 directly owns 1,670 shares in the company, valued at approximately $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Wells Fargo & Company boosted their price objective on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Barclays cut their target price on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $404.88.

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.