Rodgers Brothers Inc. Trims Position in Hubbell Incorporated (NYSE:HUBB)

Rodgers Brothers Inc. trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 0.2% during the 4th quarter, Holdings Channel reports. The firm owned 22,247 shares of the industrial products company’s stock after selling 49 shares during the period. Hubbell comprises 1.2% of Rodgers Brothers Inc.’s investment portfolio, making the stock its 18th biggest position. Rodgers Brothers Inc.’s holdings in Hubbell were worth $9,319,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV raised its holdings 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 valued at $27,000 after acquiring an additional 30 shares during the period. Groupama Asset Managment raised its stake in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new position in Hubbell in the 4th quarter worth approximately $30,000. Versant Capital Management Inc lifted its holdings in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on HUBB. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays decreased their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $462.13.

Hubbell Stock Down 3.0 %

Shares of NYSE HUBB opened at $331.68 on Monday. Hubbell Incorporated has a 12-month low of $330.00 and a 12-month high of $481.35. The stock’s fifty day simple moving average is $379.97 and its two-hundred day simple moving average is $418.86. The stock has a market capitalization of $17.80 billion, a PE ratio of 23.10, a price-to-earnings-growth 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 issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company earned $3.69 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding 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 generally an indication that the company’s board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

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

Hubbell Company 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.