Hudson Edge Investment Partners Inc. Sells 1,127 Shares of Hubbell Incorporated (NYSE:HUBB)

Hudson Edge Investment Partners Inc. decreased its position in Hubbell Incorporated (NYSE:HUBB) by 7.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,820 shares of the industrial products company’s stock after selling 1,127 shares during the quarter. Hubbell accounts for approximately 1.1% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 26th biggest holding. Hudson Edge Investment Partners Inc.’s holdings in Hubbell were worth $6,208,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in Hubbell in the 4th quarter valued at $30,000. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell in the third quarter valued at $33,000. Versant Capital Management Inc raised its holdings in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Hubbell during the 3rd quarter worth about $41,000. Finally, Venturi Wealth Management LLC grew its holdings in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Barclays increased their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $471.50.

Hubbell Trading Down 3.3 %

NYSE HUBB opened at $376.74 on Friday. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The stock has a 50-day simple moving average of $421.57 and a 200 day simple moving average of $423.47. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $20.22 billion, a PE ratio of 26.24, a P/E/G ratio of 1.35 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, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion during 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 period in the previous year, the company earned $3.69 EPS. Research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.40%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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

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.