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

Wilmington Savings Fund Society FSB cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 528 shares of the industrial products company’s stock after selling 48 shares during the quarter. 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 made changes to their positions in the stock. Mizuho Securities USA LLC lifted its stake 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 purchasing an additional 7,975,855 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc lifted its stake in Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Hubbell by 268.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after purchasing an additional 168,380 shares during the last quarter. Finally, LGT Capital Partners LTD. purchased a new stake in Hubbell during the third quarter worth approximately $39,687,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HUBB has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft cut 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 note on Tuesday, November 26th. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Trading Down 1.5 %

NYSE:HUBB opened at $391.07 on Thursday. The firm has a market cap of $20.99 billion, a P/E ratio of 27.23, a PEG ratio of 1.36 and a beta of 0.92. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock’s 50 day simple moving average is $430.98 and its 200-day simple moving average is $423.43. Hubbell Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results 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. 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 for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.69 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized a share 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 of directors believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

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.