Citizens Financial Group Inc. RI Sells 31 Shares of Hubbell Incorporated (NYSE:HUBB)

Citizens Financial Group Inc. RI lowered its position in shares of Hubbell Incorporated (NYSE:HUBB) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 8,913 shares of the industrial products company’s stock after selling 31 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Hubbell were worth $3,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nvwm LLC purchased a new position in Hubbell in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 74 shares during the period. Principal Securities Inc. purchased a new position in shares of Hubbell during the fourth quarter valued at approximately $40,000. Riverview Trust Co bought a new position in Hubbell during the first quarter valued at approximately $52,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Hubbell in the first quarter worth approximately $56,000. Institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Trading Up 1.0 %

Hubbell stock opened at $408.82 on Tuesday. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 1.44 and a beta of 0.90. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61. The firm has a 50 day moving average of $378.51 and a 200 day moving average of $387.81. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping 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 company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm posted $4.07 EPS. Hubbell’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.19%. Hubbell’s dividend payout ratio is presently 36.39%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price for the company. Barclays lowered their target price on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and increased their price objective for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, Stephens restated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.88.

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.