Hubbell Incorporated (NYSE:HUBB) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 8.3% during the fourth quarter, HoldingsChannel reports. The fund owned 528 shares of the industrial products company’s stock after selling 48 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Hubbell were worth $221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. OLD National Bancorp IN grew its holdings in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 22 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in 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 purchasing an additional 25 shares during the last quarter. JGP Wealth Management LLC grew its holdings in Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 26 shares during the last quarter. Avestar Capital LLC grew its holdings in 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 purchasing an additional 28 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley upped their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $471.50.

Hubbell Stock Down 1.5 %

Shares of NYSE:HUBB opened at $391.07 on Thursday. The stock’s 50-day moving average price is $430.98 and its two-hundred day moving average price is $423.43. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.36 and a beta of 0.92.

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

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

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

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.