Hubbell Incorporated (NYSE:HUBB) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 13.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,850 shares of the industrial products company’s stock after selling 1,800 shares during the period. Premier Fund Managers Ltd’s holdings in Hubbell were worth $4,963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Creative Financial Designs Inc. ADV boosted its position in Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares during the last quarter. Groupama Asset Managment increased its stake in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell in the fourth quarter worth $30,000. Versant Capital Management Inc lifted its position in Hubbell by 64.6% during the fourth 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 during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 53 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE:HUBB opened at $342.04 on Friday. The company has a market cap of $18.36 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35. The company has a fifty day simple moving average of $382.09 and a two-hundred day simple moving average of $418.74.

Hubbell (NYSE:HUBB) last issued its 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. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $3.69 earnings per share. As a group, equities analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has initiated a stock repurchase plan 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 plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.54%. Hubbell’s dividend payout ratio is currently 36.77%.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction 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 owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the subject of several recent research reports. Wells Fargo & Company reduced their price target 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. Barclays decreased their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Hold” and an average 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.