Pine Valley Investments Ltd Liability Co Sells 90 Shares of Hubbell Incorporated (NYSE:HUBB)

Pine Valley Investments Ltd Liability Co lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 12.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 662 shares of the industrial products company’s stock after selling 90 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Hubbell were worth $277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Groupama Asset Managment increased its stake in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new position in Hubbell during the 4th quarter valued at $30,000. Prospera Private Wealth LLC purchased a new position in Hubbell during the 3rd quarter valued at $33,000. Versant Capital Management Inc raised its holdings in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell in the 3rd quarter worth about $41,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 1.5 %

Hubbell stock opened at $377.81 on Thursday. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The business’s fifty day simple moving average is $416.93 and its two-hundred day simple moving average is $424.37. 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 posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm earned $3.69 EPS. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell declared that its board has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HUBB shares. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Barclays increased their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Hubbell has an average rating of “Hold” and an average price target of $471.50.

Insider Activity 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 stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This 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 through the SEC website. 0.66% of the stock is owned by insiders.

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.