Sei Investments Co. Has $38.29 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Sei Investments Co. reduced its holdings in Hubbell Incorporated (NYSE:HUBB) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,402 shares of the industrial products company’s stock after selling 4,637 shares during the period. Sei Investments Co.’s holdings in Hubbell were worth $38,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. MassMutual Private Wealth & Trust FSB increased its position in shares of Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 25 shares during the last quarter. JGP Wealth Management LLC increased its position in shares of Hubbell by 1.2% during the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 26 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Hubbell by 0.5% during the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after purchasing an additional 27 shares during the last quarter. Mindset Wealth Management LLC raised its stake in shares of Hubbell by 1.7% during the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock worth $693,000 after purchasing an additional 27 shares in the last quarter. Finally, Avestar Capital LLC grew its stake in shares of Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after buying an additional 28 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Hubbell Stock Up 3.3 %

HUBB opened at $349.55 on Tuesday. The stock has a fifty day moving average of $387.00 and a 200-day moving average of $419.90. The company has a market capitalization of $18.76 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a fifty-two week low of $330.32 and a fifty-two week 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.

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

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.51%. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were 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 of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hubbell Company 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.