Suncoast Equity Management Sells 77 Shares of Hubbell Incorporated (NYSE:HUBB)

Suncoast Equity Management trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,151 shares of the industrial products company’s stock after selling 77 shares during the period. Suncoast Equity Management’s holdings in Hubbell were worth $707,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Hubbell by 1.7% during the third quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock worth $1,810,812,000 after buying an additional 96,435 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Hubbell by 1.7% in the first quarter. BlackRock Inc. now owns 5,457,568 shares of the industrial products company’s stock valued at $1,327,881,000 after buying an additional 89,491 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Hubbell by 5.8% in the first quarter. JPMorgan Chase & Co. now owns 2,731,202 shares of the industrial products company’s stock valued at $664,529,000 after buying an additional 148,953 shares during the period. FMR LLC boosted its stake in shares of Hubbell by 2.9% in the third quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock valued at $803,572,000 after buying an additional 71,962 shares during the period. Finally, State Street Corp boosted its stake in shares of Hubbell by 2.1% in the first 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Hubbell Price Performance

Shares of NYSE:HUBB traded down $5.77 during trading on Tuesday, hitting $396.82. 208,528 shares of the company were exchanged, compared to its average volume of 407,737. The business’s 50 day moving average is $388.99 and its 200-day moving average is $337.50. The company has a market capitalization of $21.28 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a 1-year low of $227.39 and a 1-year high of $429.61.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 earnings per share. Equities analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.22 dividend. 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 1.23%. Hubbell’s payout ratio is 34.73%.

Insider Activity at Hubbell

In other Hubbell news, CFO William R. Sperry sold 14,925 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the completion of the sale, the chief financial officer now directly owns 37,848 shares in the company, valued at approximately $13,359,965.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Hubbell news, CFO William R. Sperry sold 14,925 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the completion of the sale, the chief financial officer now directly owns 37,848 shares in the company, valued at approximately $13,359,965.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the sale, the vice president now owns 3,646 shares of the company’s stock, valued at $1,286,090.04. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $12,065,100 over the last three months. Company insiders own 0.78% of the company’s stock.

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.