Annis Gardner Whiting Capital Advisors LLC Sells 41 Shares of Hubbell Incorporated (NYSE:HUBB)

Annis Gardner Whiting Capital Advisors LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 26.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 116 shares of the industrial products company’s stock after selling 41 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Hubbell were worth $49,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HUBB. DF Dent & Co. Inc. purchased a new stake in shares of Hubbell during the fourth quarter valued at $392,000. ExodusPoint Capital Management LP purchased a new stake in Hubbell in the 4th quarter valued at about $5,017,000. Grant Private Wealth Management Inc bought a new position in Hubbell in the 4th quarter worth about $784,000. World Investment Advisors purchased a new position in shares of Hubbell during the fourth quarter worth approximately $214,000. Finally, Huntington National Bank raised its stake in shares of Hubbell by 3.0% during the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 26 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Performance

HUBB stock opened at $315.69 on Friday. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The firm has a market cap of $16.94 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.34 and a beta of 0.95. 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 has a 50-day simple moving average of $367.74 and a two-hundred day simple moving average of $416.03.

Hubbell (NYSE:HUBB) last posted its earnings results 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 analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.69 earnings per share. On average, equities analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays dropped their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company lowered 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. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Hold” and a consensus target price of $462.13.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred 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 directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

About Hubbell

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.