Sentry Investment Management LLC Lowers Holdings in Hubbell Incorporated (NYSE:HUBB)

Sentry Investment Management LLC reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197 shares of the industrial products company’s stock after selling 32 shares during the period. Sentry Investment Management LLC’s holdings in Hubbell were worth $83,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Hubbell by 38.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,562 shares of the industrial products company’s stock worth $1,526,000 after purchasing an additional 986 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Hubbell by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,236 shares of the industrial products company’s stock worth $2,671,000 after buying an additional 420 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of Hubbell by 9.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,155 shares of the industrial products company’s stock worth $495,000 after buying an additional 95 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Hubbell by 5.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,601 shares of the industrial products company’s stock valued at $2,399,000 after buying an additional 270 shares in the last quarter. Finally, Trajan Wealth LLC purchased a new stake in shares of Hubbell during the 3rd quarter valued at $218,000. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HUBB shares. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Barclays raised their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and cut their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company decreased 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $471.50.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Hubbell Stock Performance

NYSE:HUBB opened at $369.08 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35. The firm has a market cap of $19.81 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The business has a 50 day moving average price of $415.98 and a 200-day moving average price of $424.05.

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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company posted $3.69 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts predict 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. Investors 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 yield of 1.43%. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.