State of Alaska Department of Revenue Cuts Holdings in Hubbell Incorporated (NYSE:HUBB)

State of Alaska Department of Revenue reduced its position in Hubbell Incorporated (NYSE:HUBB) by 1.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,121 shares of the industrial products company’s stock after selling 115 shares during the period. State of Alaska Department of Revenue’s holdings in Hubbell were worth $2,564,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HUBB. Groupama Asset Managment increased its holdings in Hubbell by 17.0% in 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. Prospera Private Wealth LLC acquired a new stake in Hubbell in the 3rd quarter valued at $33,000. Versant Capital Management Inc increased its holdings in Hubbell by 64.6% in 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. Ashton Thomas Securities LLC acquired a new stake in Hubbell in the 3rd quarter valued at $41,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Hubbell in the 3rd quarter valued at $58,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HUBB shares. Morgan Stanley increased their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their target price on 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 raised their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell currently has an average rating of “Hold” and a consensus target price of $471.50.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $399.94 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $433.34 and its two-hundred day moving average price is $422.91. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The stock has a market capitalization of $21.47 billion, a P/E ratio of 27.85, a P/E/G ratio of 1.36 and a beta of 0.92.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $3.69 earnings per share. Hubbell’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.32%. 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.