Rhumbline Advisers Trims Stake in Hubbell Incorporated (NYSE:HUBB)

Rhumbline Advisers decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 96,713 shares of the industrial products company’s stock after selling 2,086 shares during the quarter. Rhumbline Advisers’ holdings in Hubbell were worth $40,512,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in HUBB. Vontobel Holding Ltd. increased its position in Hubbell by 9,720.7% during the 4th quarter. Vontobel Holding Ltd. now owns 74,048 shares of the industrial products company’s stock worth $31,018,000 after purchasing an additional 73,294 shares in the last quarter. Bogart Wealth LLC grew its holdings in shares of Hubbell by 93.9% during the fourth quarter. Bogart Wealth LLC now owns 413 shares of the industrial products company’s stock worth $173,000 after buying an additional 200 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Hubbell by 12.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 30,111 shares of the industrial products company’s stock worth $12,740,000 after buying an additional 3,244 shares in the last quarter. Avestar Capital LLC raised its position in shares of Hubbell by 34.7% in the fourth quarter. Avestar Capital LLC now owns 777 shares of the industrial products company’s stock valued at $325,000 after buying an additional 200 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in Hubbell during the fourth quarter worth approximately $174,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Down 0.8 %

Shares of NYSE:HUBB opened at $389.93 on Tuesday. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The stock has a 50-day simple moving average of $425.25 and a 200-day simple moving average of $423.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.64. The stock has a market capitalization of $20.93 billion, a P/E ratio of 27.15, a PEG 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 EPS for the quarter, beating 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 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 firm posted $3.69 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HUBB. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. 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 target on the stock. Barclays upped their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Hold” and an average price target of $471.50.

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.