Victory Capital Management Inc. Decreases Holdings in Hubbell Incorporated (NYSE:HUBB)

Victory Capital Management Inc. cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 519,559 shares of the industrial products company’s stock after selling 31,223 shares during the quarter. Victory Capital Management Inc.’s holdings in Hubbell were worth $170,899,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. North Star Asset Management Inc. grew its holdings in shares of Hubbell by 1.5% in the third quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock worth $746,000 after purchasing an additional 36 shares during the last quarter. Xponance Inc. grew its holdings in shares of Hubbell by 0.4% in the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after purchasing an additional 36 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Hubbell by 2.4% in the third quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 45 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Hubbell by 14.3% in the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 50 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Hubbell by 6.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 881 shares of the industrial products company’s stock worth $276,000 after purchasing an additional 50 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the transaction, the chief executive officer now owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the transaction, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock worth $12,065,100. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Shares of HUBB stock opened at $373.30 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.26 and a beta of 0.96. The business’s fifty day moving average is $397.61 and its 200 day moving average is $344.52. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. Hubbell’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $3.61 EPS. Research analysts expect that Hubbell Incorporated will post 16.4 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Wall Street Analyst Weigh In

HUBB has been the topic of several recent analyst reports. Mizuho raised their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Wells Fargo & Company cut their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Barclays upped their price objective on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $388.86.

About Hubbell

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.