Orion Portfolio Solutions LLC Sells 163 Shares of Hubbell Incorporated (NYSE:HUBB)

Orion Portfolio Solutions LLC trimmed its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 7,983 shares of the industrial products company’s stock after selling 163 shares during the period. Orion Portfolio Solutions LLC’s holdings in Hubbell were worth $3,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its holdings in shares of Hubbell by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,348 shares of the industrial products company’s stock valued at $1,006,000 after buying an additional 300 shares during the period. Erste Asset Management GmbH bought a new position in Hubbell in the third quarter valued at about $5,462,000. Paloma Partners Management Co boosted its position in Hubbell by 53.8% in the third quarter. Paloma Partners Management Co now owns 6,000 shares of the industrial products company’s stock worth $2,570,000 after purchasing an additional 2,100 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in Hubbell in the third quarter worth about $426,000. Finally, Beacon Investment Advisory Services Inc. bought a new stake in shares of Hubbell during the 3rd quarter valued at about $203,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 0.3 %

HUBB opened at $331.08 on Tuesday. The stock has a market cap of $17.77 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm’s fifty day moving average is $377.84 and its 200 day moving average is $418.38. Hubbell Incorporated has a fifty-two week low of $316.34 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $3.69 earnings per share. The business’s revenue was down .9% on a year-over-year basis. On average, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

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

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’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 transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays cut their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.