Wellington Management Group LLP Has $59.82 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Wellington Management Group LLP lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,806 shares of the industrial products company’s stock after selling 10,217 shares during the period. Wellington Management Group LLP owned 0.27% of Hubbell worth $59,820,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in Hubbell by 12.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares during the last quarter. JGP Wealth Management LLC raised its stake in Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after buying an additional 26 shares during the last quarter. Sanctuary Advisors LLC lifted 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 buying an additional 27 shares during the period. Mindset Wealth Management LLC boosted its position in Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $693,000 after acquiring an additional 27 shares during the last quarter. Finally, BHK Investment Advisors LLC raised its position in shares of Hubbell by 2.3% in the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $566,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the topic of several research analyst reports. Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, 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 note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell has a consensus rating of “Hold” and a consensus price target of $462.13.

Hubbell Stock Down 1.8 %

Shares of NYSE HUBB opened at $315.69 on Friday. 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 company has a 50-day moving average price of $367.74 and a 200-day moving average price of $416.07. The stock has a market capitalization of $16.94 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35.

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 analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company posted $3.69 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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.