Hubbell Incorporated (NYSE:HUBB) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. decreased its position in Hubbell Incorporated (NYSE:HUBB) by 10.6% during the 4th quarter, Holdings Channel reports. The fund owned 55,637 shares of the industrial products company’s stock after selling 6,579 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Hubbell were worth $23,306,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HUBB. Salem Investment Counselors Inc. increased its stake in Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock valued at $3,830,000 after purchasing an additional 1,886 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after acquiring an additional 15,806 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after acquiring an additional 15,215 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Hubbell by 29.6% during the fourth quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock worth $67,503,000 after acquiring an additional 36,643 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda purchased a new position in shares of Hubbell during the third quarter worth approximately $9,985,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Barclays lowered their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Hubbell presently has an average rating of “Hold” and a consensus price target of $464.88.

Hubbell Price Performance

Hubbell stock opened at $342.52 on Thursday. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The business has a fifty day moving average of $391.96 and a two-hundred day moving average of $420.44. The company has a market cap of $18.38 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.69 EPS. As a group, analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell declared that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.