Commonwealth Equity Services LLC Sells 32 Shares of Hubbell Incorporated (NYSE:HUBB)

Commonwealth Equity Services LLC trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,724 shares of the industrial products company’s stock after selling 32 shares during the period. Commonwealth Equity Services LLC’s holdings in Hubbell were worth $4,492,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $30,000. Versant Capital Management Inc increased its stake in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after buying an additional 53 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Hubbell during the fourth quarter worth $69,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Hubbell by 25.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company’s stock valued at $80,000 after buying an additional 38 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 value of $452,865.84. Following the completion of the sale, the insider now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Performance

Shares of Hubbell stock opened at $338.08 on Monday. The business’s fifty day simple moving average is $388.41 and its 200 day simple moving average is $420.05. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12 month low of $330.32 and a 12 month high of $481.35. The firm has a market capitalization of $18.14 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94.

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

Hubbell declared that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. Hubbell’s payout ratio is currently 36.77%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in 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 report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays cut their target price 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $464.88.

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.