Maryland State Retirement & Pension System Has $1.20 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Maryland State Retirement & Pension System lessened its position in shares of Hubbell Incorporated (NYSE:HUBB) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,859 shares of the industrial products company’s stock after selling 200 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Hubbell were worth $1,198,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Hubbell by 12.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 25 shares during the period. JGP Wealth Management LLC lifted its stake in shares of Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after acquiring an additional 26 shares during the period. Sanctuary Advisors LLC increased its holdings in Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after purchasing an additional 27 shares during the last quarter. Avestar Capital LLC increased its holdings in Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 28 shares during the last quarter. Finally, BHK Investment Advisors LLC increased its holdings in Hubbell by 2.3% in the fourth quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $566,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’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 completion of the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is owned by insiders.

Hubbell Stock Down 0.3 %

Shares of Hubbell stock opened at $338.08 on Friday. Hubbell Incorporated has a 1 year low of $330.32 and a 1 year high of $481.35. The business has a 50-day moving average of $388.41 and a two-hundred day moving average of $419.73. The company has a market capitalization of $18.14 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share 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 return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.69 earnings per share. As a group, equities analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has approved a stock repurchase 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 usually a sign that the company’s board believes its stock is undervalued.

Hubbell Announces Dividend

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

Analyst Upgrades and Downgrades

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