Sienna Gestion Decreases Stock Position in Hubbell Inc (NYSE:HUBB)

Sienna Gestion reduced its position in Hubbell Inc (NYSE:HUBB) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,775 shares of the industrial products company’s stock after selling 964 shares during the period. Sienna Gestion’s holdings in Hubbell were worth $4,753,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new stake in Hubbell during the 1st quarter valued at $30,000. Johnson Financial Group Inc. raised its stake in Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after buying an additional 65 shares during the last quarter. CX Institutional purchased a new stake in Hubbell during the 1st quarter valued at $49,000. NBC Securities Inc. purchased a new stake in Hubbell during the 1st quarter valued at $49,000. Finally, Intact Investment Management Inc. purchased a new stake in Hubbell during the 1st quarter valued at $66,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Up 2.8%

Shares of Hubbell stock opened at $444.12 on Thursday. The company has a market capitalization of $23.60 billion, a P/E ratio of 28.84, a P/E/G ratio of 2.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The company has a fifty day moving average of $414.49 and a 200 day moving average of $382.53. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. On average, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell’s dividend payout ratio is 34.29%.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director owned 1,727 shares of the company’s stock, valued at $667,122.83. This represents a 18.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

HUBB has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Wells Fargo & Company upped their price objective on Hubbell from $420.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Barclays upped their price objective on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Hubbell has a consensus rating of “Hold” and an average price target of $462.29.

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.