Wellington Management Group LLP Sells 10,217 Shares of Hubbell Incorporated (NYSE:HUBB)

Wellington Management Group LLP decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 6.7% in the 4th quarter, Holdings Channel reports. The fund owned 142,806 shares of the industrial products company’s stock after selling 10,217 shares during the quarter. Wellington Management Group LLP’s holdings in Hubbell were worth $59,820,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its stake in Hubbell by 3.2% in the 4th quarter. Clearbridge Investments LLC now owns 3,948 shares of the industrial products company’s stock valued at $1,654,000 after buying an additional 123 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Hubbell by 6.5% during the 4th quarter. Schroder Investment Management Group now owns 63,758 shares of the industrial products company’s stock valued at $26,708,000 after purchasing an additional 3,912 shares during the period. Allianz SE purchased a new stake in Hubbell during the 4th quarter worth about $436,000. Allstate Corp bought a new position in Hubbell in the 4th quarter worth about $644,000. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Hubbell by 230.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 52,830 shares of the industrial products company’s stock worth $22,130,000 after purchasing an additional 36,829 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 1.8 %

NYSE HUBB opened at $315.69 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The stock’s 50-day simple moving average is $367.74 and its two-hundred day simple moving average is $416.07. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company 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 company posted $3.69 EPS. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. Research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell declared that its board has initiated 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Barclays cut their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their price target 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. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and an average target price of $462.13.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s 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 transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

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.