Northwest & Ethical Investments L.P. Trims Position in Hubbell Incorporated (NYSE:HUBB)

Northwest & Ethical Investments L.P. cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,637 shares of the industrial products company’s stock after selling 6,579 shares during the quarter. Northwest & Ethical Investments L.P. owned 0.10% of Hubbell worth $23,306,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV increased its holdings in shares of 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 in the last quarter. Groupama Asset Managment increased its holdings in shares of 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 in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell during the 4th quarter valued at approximately $30,000. Prospera Private Wealth LLC purchased a new position in shares of Hubbell during the 3rd quarter valued at approximately $33,000. Finally, Versant Capital Management Inc increased its holdings in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Trading Up 1.8 %

Shares of HUBB stock opened at $342.52 on Thursday. The company’s 50-day moving average price is $391.96 and its 200-day moving average price is $420.44. 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 stock has a market cap of $18.38 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a twelve month low of $330.32 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion for 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%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.69 EPS. As a group, equities analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.54%. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

Hubbell announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Insider Activity at Hubbell

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

About Hubbell

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.