Metis Global Partners LLC Decreases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Metis Global Partners LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,536 shares of the industrial products company’s stock after selling 42 shares during the period. Metis Global Partners LLC’s holdings in Hubbell were worth $1,062,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HUBB. Stephens Inc. AR raised its stake in Hubbell by 19.7% during the 3rd quarter. Stephens Inc. AR now owns 1,663 shares of the industrial products company’s stock valued at $712,000 after buying an additional 274 shares during the last quarter. Gladstone Institutional Advisory LLC raised its stake in Hubbell by 9.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 817 shares of the industrial products company’s stock valued at $350,000 after buying an additional 69 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Hubbell by 5.2% during the 3rd 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 raised its stake in Hubbell by 11.0% during the 3rd 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. Finally, BSW Wealth Partners purchased a new stake in Hubbell during the 3rd quarter valued at $210,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 4.7 %

Shares of Hubbell stock opened at $354.21 on Tuesday. The company has a market capitalization of $19.01 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The company has a fifty day moving average of $412.33 and a 200 day moving average of $424.12. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last issued its earnings results 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.69 EPS. On average, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in 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 generally an indication that the company’s management believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company decreased 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. Barclays reduced their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday. 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 for the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, StockNews.com upgraded 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $464.88.

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.