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Disclosure Insight Maintains Medium Risk – Negative Bias for Hubbell

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In a published research note, D.I. Reports reiterates its Medium Risk – Negative Bias for Hubbell Inc. (NYSE: HUB.B) on acquisition activity, insider ownership and senior executive positions held.

According to D.I., "HUB-B reported 7 business acquisitions and 5 asset acquisitions for $683 million, of which $279 million was allocated to goodwill. HUB-B has 2 classes of voting common stock. Each A share is entitled to 20 votes and each B share is entitled to one vote. As of Sep-11, there were 7.17 million A shares outstanding and 51.77 million B shares outstanding. Andrew McNally (director), G. Jackson Ratcliffe (former Chairman & CEO), and Richard Davies (General Counsel since 1987), as a group, control 36.5% of the vote through their aggregate equity ownership, which includes both classes of stock. All directors and executive officers, as a group, owned 54.8% of Class A shares and 4.32% of Class B shares, which equates to 41.1% of the total voting power."

HUB.B closed at $63.76 per share on Tuesday, up 1.8 percent.

 

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Posted-In: Disclosure InsightAnalyst Color M&A News Reiteration Analyst Ratings

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