Hubbell Incorporated (NYSE:HUBB) Position Reduced by Sigma Planning Corp

Sigma Planning Corp cut its position in shares of Hubbell Incorporated (NYSE:HUBB) by 17.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,338 shares of the industrial products company’s stock after selling 281 shares during the quarter. Sigma Planning Corp’s holdings in Hubbell were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mizuho Securities USA LLC increased its holdings in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after acquiring an additional 7,975,855 shares during the last quarter. State Street Corp raised its stake in shares of Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after acquiring an additional 22,507 shares during 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 purchasing an additional 82,258 shares during the last quarter. Geode Capital Management LLC raised its position in Hubbell by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after purchasing an additional 8,278 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $377.81 on Thursday. The company’s fifty day moving average is $416.93 and its 200 day moving average is $424.37. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The stock has a market cap of $20.28 billion, a PE ratio of 26.31, a PEG ratio of 1.34 and a beta of 0.92.

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

Hubbell Announces Dividend

The firm 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. This represents a $5.28 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Sanford C. Bernstein began coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Morgan Stanley boosted their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $471.50.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

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.