Hubbell Incorporated (NYSE:HUBB) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,731 shares of the industrial products company’s stock after selling 4,126 shares during the period. Prudential Financial Inc.’s holdings in Hubbell were worth $12,836,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV raised its position in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 30 shares during the last quarter. Groupama Asset Managment increased its stake in shares of Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell during the 4th quarter worth approximately $30,000. Versant Capital Management Inc lifted its stake 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 buying an additional 31 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

Hubbell stock opened at $342.04 on Friday. The stock has a fifty day moving average price of $382.09 and a 200 day moving average price of $418.74. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35. The firm has a market capitalization of $18.36 billion, a P/E ratio of 23.82, a PEG ratio of 1.34 and a beta of 0.94. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.69 EPS. Equities research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.54%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HUBB shares. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company dropped their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays reduced their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $462.13.

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.