Mutual of America Capital Management LLC Sells 181 Shares of Hubbell Incorporated (NYSE:HUBB)

Mutual of America Capital Management LLC cut its position in shares of Hubbell Incorporated (NYSE:HUBB) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,431 shares of the industrial products company’s stock after selling 181 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Hubbell were worth $2,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in shares of Hubbell by 5.2% during the third quarter. Janney Montgomery Scott LLC now owns 12,917 shares of the industrial products company’s stock valued at $5,533,000 after buying an additional 640 shares during the last quarter. Van ECK Associates Corp increased its holdings in Hubbell by 11.0% during the third quarter. Van ECK Associates Corp now owns 9,741 shares of the industrial products company’s stock valued at $4,332,000 after buying an additional 966 shares during the last quarter. Impax Asset Management Group plc increased its holdings 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 valued at $514,377,000 after buying an additional 279,654 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in Hubbell by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,280 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 38 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after purchasing an additional 15,215 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

HUBB opened at $345.92 on Friday. 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 $337.97 and a 52-week high of $481.35. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.34 and a beta of 0.95. The firm’s fifty day simple moving average is $407.47 and its two-hundred day simple moving average is $422.93.

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

Hubbell announced that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Hubbell Dividend Announcement

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 1.53%. Hubbell’s payout ratio is presently 36.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered their price objective 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. Barclays dropped their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $464.88.

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.