Metis Global Partners LLC Trims Holdings in Hubbell Incorporated (NYSE:HUBB)

Metis Global Partners LLC lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,536 shares of the industrial products company’s stock after selling 42 shares during the period. Metis Global Partners LLC’s holdings in Hubbell were worth $1,062,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HUBB. Mizuho Securities USA LLC increased its holdings in Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares during the period. Impax Asset Management Group plc increased its holdings in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after purchasing an additional 168,380 shares during the period. Bank of New York Mellon Corp increased its holdings in Hubbell by 4.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after purchasing an additional 129,490 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Hubbell during the 4th quarter valued at about $40,533,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of research analyst reports. Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Barclays cut their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Wells Fargo & Company cut their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell presently has an average rating of “Hold” and an average target price of $464.88.

Hubbell Stock Performance

Shares of HUBB opened at $354.21 on Tuesday. 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 business’s 50 day moving average price is $412.33 and its 200-day moving average price is $424.12. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The stock has a market cap of $19.01 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous 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 research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

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

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. Hubbell’s payout ratio is currently 36.77%.

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.