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New York State Common Retirement Fund Sells 925 Shares of Hubbell Incorporated (NYSE:HUBB)

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New York State Common Retirement Fund trimmed its stake in Hubbell Incorporated (NYSE:HUBBGet Rating) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,790 shares of the industrial products company’s stock after selling 925 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of Hubbell worth $14,295,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in shares of Hubbell during the 4th quarter worth approximately $28,000. National Bank of Canada FI bought a new position in shares of Hubbell during the 4th quarter worth approximately $36,000. Quent Capital LLC bought a new position in shares of Hubbell during the 4th quarter worth approximately $43,000. Covestor Ltd bought a new position in shares of Hubbell during the 4th quarter worth approximately $46,000. Finally, Parallel Advisors LLC boosted its stake in shares of Hubbell by 150.0% during the 1st quarter. Parallel Advisors LLC now owns 305 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 183 shares during the period. 86.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 749 shares of Hubbell stock in a transaction on Monday, May 16th. The stock was sold at an average price of $193.73, for a total value of $145,103.77. Following the completion of the transaction, the director now directly owns 1,744 shares of the company’s stock, valued at approximately $337,865.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $213.52 on Friday. The stock has a market cap of $11.46 billion, a P/E ratio of 22.04, a PEG ratio of 2.18 and a beta of 1.17. The stock has a 50 day simple moving average of $190.95 and a 200 day simple moving average of $188.31. The company has a current ratio of 2.03, a quick ratio of 1.31 and a debt-to-equity ratio of 0.63. Hubbell Incorporated has a 1-year low of $170.21 and a 1-year high of $220.47.

Hubbell (NYSE:HUBBGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.40. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Hubbell had a return on equity of 22.61% and a net margin of 11.18%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.36 EPS. Research analysts anticipate that Hubbell Incorporated will post 9.81 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $4.20 annualized dividend and a yield of 1.97%. Hubbell’s dividend payout ratio is presently 43.34%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HUBB. JPMorgan Chase & Co. lifted their target price on Hubbell from $175.00 to $200.00 in a research note on Thursday, July 28th. Morgan Stanley lifted their target price on Hubbell from $190.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 27th. Wells Fargo & Company lifted their price target on Hubbell to $196.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, StockNews.com raised Hubbell from a “buy” rating to a “strong-buy” rating in a report on Friday.

Hubbell Company Profile

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Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

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