Hubbell Incorporated (NYSE:HUBB) Shares Sold by Atria Investments Inc

Atria Investments Inc cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 11.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,383 shares of the industrial products company’s stock after selling 306 shares during the period. Atria Investments Inc’s holdings in Hubbell were worth $998,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC raised its position in Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after acquiring an additional 7,975,855 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after buying an additional 129,490 shares in the last quarter. State Street Corp grew its holdings in shares of Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after buying an additional 22,507 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after buying an additional 82,258 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after buying an additional 8,278 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HUBB has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the stock from $493.00 to $473.00 in a 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 for the company in a report on Tuesday, January 7th. Barclays dropped their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Five research 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 target price of $464.88.

Insider Buying and Selling at Hubbell

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

Hubbell Trading Down 1.7 %

Shares of HUBB opened at $334.67 on Thursday. The firm has a 50-day moving average price of $401.24 and a 200 day moving average price of $422.27. Hubbell Incorporated has a 12-month low of $332.97 and a 12-month high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $17.96 billion, a P/E ratio of 23.31, a P/E/G ratio of 1.34 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 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 company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company posted $3.69 earnings per share. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.58%. Hubbell’s payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are 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.