Intech Investment Management LLC Sells 4,271 Shares of Hubbell Incorporated (NYSE:HUBB)

Intech Investment Management LLC reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 55.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,398 shares of the industrial products company’s stock after selling 4,271 shares during the period. Intech Investment Management LLC’s holdings in Hubbell were worth $1,423,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its holdings in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 30 shares during the last quarter. Groupama Asset Managment lifted its holdings in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Hubbell during the 4th quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in shares of Hubbell in the third quarter worth about $33,000. Finally, Versant Capital Management Inc raised its stake 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 worth $33,000 after acquiring an additional 31 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on HUBB. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays dropped their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $464.88.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.78% of the company’s stock.

Hubbell Stock Down 0.3 %

Shares of NYSE:HUBB opened at $338.08 on Friday. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35. The company has a 50 day moving average of $388.41 and a 200-day moving average of $419.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 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 analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.69 EPS. On average, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Hubbell 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.