Sei Investments Co. Sells 4,637 Shares of Hubbell Incorporated (NYSE:HUBB)

Sei Investments Co. reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 4.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,402 shares of the industrial products company’s stock after selling 4,637 shares during the period. Sei Investments Co. owned about 0.17% of Hubbell worth $38,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Thrivent Financial for Lutherans raised its stake in shares of Hubbell by 286.9% in the third quarter. Thrivent Financial for Lutherans now owns 8,381 shares of the industrial products company’s stock valued at $3,590,000 after acquiring an additional 6,215 shares during the last quarter. Nwam LLC acquired a new stake in Hubbell during the 3rd quarter valued at $318,000. Cerity Partners LLC raised its position in Hubbell by 54.1% in the 3rd quarter. Cerity Partners LLC now owns 9,326 shares of the industrial products company’s stock valued at $3,995,000 after purchasing an additional 3,273 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in Hubbell by 1.0% in the third quarter. Kingsview Wealth Management LLC now owns 3,288 shares of the industrial products company’s stock worth $1,408,000 after purchasing an additional 31 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Hubbell by 5.1% during the third quarter. Swedbank AB now owns 43,308 shares of the industrial products company’s stock worth $18,551,000 after purchasing an additional 2,100 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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 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 owns 4,327 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Hubbell Trading Up 3.3 %

Shares of NYSE HUBB opened at $349.55 on Tuesday. Hubbell Incorporated has a twelve month low of $330.32 and a twelve month high of $481.35. The stock has a market cap of $18.76 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average is $387.00 and its 200-day moving average is $419.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business posted $3.69 EPS. The firm’s revenue was down .9% compared to the same quarter last year. Equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits 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 board believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.51%. Hubbell’s payout ratio is 36.77%.

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.