Pettee Investors Inc. Sells 75 Shares of Hubbell Incorporated (NYSE:HUBB)

Pettee Investors Inc. decreased its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,815 shares of the industrial products company’s stock after selling 75 shares during the quarter. Pettee Investors Inc.’s holdings in Hubbell were worth $1,760,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CWM LLC lifted its position in Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after buying an additional 28 shares during the period. Meeder Advisory Services Inc. lifted its position in Hubbell by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 30 shares during the period. Detalus Advisors LLC boosted its stake in Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares during the period. Finally, Tectonic Advisors LLC increased its stake in shares of Hubbell by 4.0% during the first quarter. Tectonic Advisors LLC now owns 946 shares of the industrial products company’s stock valued at $393,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Hubbell Trading Down 0.4 %

Shares of NYSE:HUBB opened at $377.44 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The company has a market cap of $20.26 billion, a P/E ratio of 28.26, a PEG ratio of 1.51 and a beta of 0.90. The stock’s fifty day moving average price is $375.39 and its 200-day moving average price is $386.46.

Hubbell (NYSE:HUBB) last posted its 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 business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $4.07 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts expect that Hubbell Incorporated will post 16.39 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.22 per share. The ex-dividend date is Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.29%. Hubbell’s payout ratio is 36.39%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HUBB. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays cut their target price on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price target on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $402.57.

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.