Triasima Portfolio Management inc. Reduces Stock Position in Hubbell Incorporated (NYSE:HUBB)

Triasima Portfolio Management inc. cut its position in shares of Hubbell Incorporated (NYSE:HUBBFree Report) by 9.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,497 shares of the industrial products company’s stock after selling 1,803 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Hubbell were worth $5,426,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Hubbell by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock worth $1,810,812,000 after purchasing an additional 96,435 shares during the period. BlackRock Inc. boosted its stake in shares of Hubbell by 1.7% during the 1st quarter. BlackRock Inc. now owns 5,457,568 shares of the industrial products company’s stock worth $1,327,881,000 after purchasing an additional 89,491 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Hubbell by 5.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,731,202 shares of the industrial products company’s stock worth $664,529,000 after purchasing an additional 148,953 shares during the period. FMR LLC boosted its stake in shares of Hubbell by 2.9% during the 3rd quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock worth $803,572,000 after purchasing an additional 71,962 shares during the period. Finally, State Street Corp boosted its position in Hubbell by 2.1% in the 1st quarter. State Street Corp now owns 1,753,314 shares of the industrial products company’s stock valued at $426,599,000 after buying an additional 35,752 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Trading Down 1.1 %

Hubbell stock traded down $4.49 during midday trading on Friday, hitting $401.74. 405,898 shares of the stock were exchanged, compared to its average volume of 373,297. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a fifty-two week low of $221.03 and a fifty-two week high of $429.61. The stock’s 50-day simple moving average is $387.95 and its 200 day simple moving average is $336.57. The stock has a market capitalization of $21.55 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 2.47 and a beta of 0.94.

Hubbell (NYSE:HUBBGet Free Report) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 EPS. On average, equities analysts anticipate that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a yield of 1.21%. Hubbell’s dividend payout ratio (DPR) is currently 34.73%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,837 shares of Hubbell stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total value of $657,939.92. Following the completion of the sale, the insider now owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 1,837 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the transaction, the insider now owns 5,296 shares in the company, valued at $1,896,815.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the transaction, the vice president now owns 9,355 shares in the company, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. In the last three months, insiders sold 34,125 shares of company stock valued at $12,065,100. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HUBB. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. Mizuho boosted their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays boosted their price target on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $383.57.

View Our Latest Research Report on Hubbell

About Hubbell

(Free Report)

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.

Read More

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBBFree Report).

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.