Hubbell Incorporated (NYSE:HUBB) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 125,932 shares of the industrial products company’s stock after selling 3,197 shares during the period. CIBC Private Wealth Group LLC’s holdings in Hubbell were worth $54,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Hubbell during the 4th quarter valued at about $195,218,000. Raymond James Financial Inc. acquired a new position in shares of Hubbell during the fourth quarter valued at approximately $63,647,000. Bank of New York Mellon Corp raised its holdings in Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after purchasing an additional 129,490 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Hubbell in the fourth quarter worth approximately $40,533,000. Finally, Vontobel Holding Ltd. boosted its stake 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 valued at $31,018,000 after purchasing an additional 73,294 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Down 3.0 %

HUBB stock opened at $331.68 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a market capitalization of $17.80 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 52-week low of $330.00 and a 52-week high of $481.35. The company’s 50 day simple moving average is $379.97 and its 200-day simple moving average is $418.86.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for 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 revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $3.69 EPS. As a group, equities research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. Hubbell’s payout ratio is presently 36.77%.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’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 transaction of $452,865.84. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HUBB. Barclays cut their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.