Ameritas Investment Partners Inc. Sells 43 Shares of Hubbell Incorporated (NYSE:HUBB)

Ameritas Investment Partners Inc. trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 0.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,755 shares of the industrial products company’s stock after selling 43 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Hubbell were worth $1,974,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Nvwm LLC purchased a new stake in shares of Hubbell during the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC grew its position in Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC increased its holdings in Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares during the last quarter. Baillie Gifford & Co. bought a new stake in Hubbell in the fourth quarter worth about $33,000. Finally, Principal Securities Inc. purchased a new position in Hubbell in the fourth quarter valued at about $40,000. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 1,942 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the transaction, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the sale, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,055 shares of company stock valued at $1,232,139. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $16.00 during trading on Wednesday, hitting $363.60. 275,103 shares of the company were exchanged, compared to its average volume of 457,409. The company has a market cap of $19.52 billion, a PE ratio of 28.30, a P/E/G ratio of 1.40 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The stock has a 50 day moving average of $381.39 and a 200 day moving average of $378.62.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.61 EPS. As a group, equities research analysts predict that Hubbell Incorporated will post 16.33 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.88 annualized dividend and a yield of 1.34%. Hubbell’s dividend payout ratio is currently 36.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company lowered their target price 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

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.