Private Advisor Group LLC Sells 115 Shares of Hubbell Incorporated (NYSE:HUBB)

Private Advisor Group LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,081 shares of the industrial products company’s stock after selling 115 shares during the quarter. Private Advisor Group LLC’s holdings in Hubbell were worth $2,128,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Creative Planning raised its stake in shares of Hubbell by 19.3% in the third quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock worth $1,775,000 after purchasing an additional 671 shares during the last quarter. Signaturefd LLC increased its holdings in Hubbell by 20.3% in the 3rd quarter. Signaturefd LLC now owns 278 shares of the industrial products company’s stock worth $119,000 after buying an additional 47 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Hubbell by 38.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,562 shares of the industrial products company’s stock worth $1,526,000 after buying an additional 986 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Hubbell by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,236 shares of the industrial products company’s stock valued at $2,671,000 after acquiring an additional 420 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Hubbell by 9.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,155 shares of the industrial products company’s stock valued at $495,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $372.25 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The stock has a 50-day simple moving average of $418.28 and a two-hundred day simple moving average of $424.41. The firm has a market capitalization of $19.98 billion, a PE ratio of 25.92, a P/E/G ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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 company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $3.69 EPS. Analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its board has authorized a share 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hubbell Announces Dividend

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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.42%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HUBB. Morgan Stanley boosted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. 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 report on Tuesday, November 26th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $471.50.

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.