Anchor Capital Advisors LLC Sells 5,535 Shares of Hubbell Incorporated (NYSE:HUBB)

Anchor Capital Advisors LLC reduced its holdings in Hubbell Incorporated (NYSE:HUBB) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,282 shares of the industrial products company’s stock after selling 5,535 shares during the quarter. Hubbell accounts for about 1.4% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 20th largest position. Anchor Capital Advisors LLC owned 0.21% of Hubbell worth $47,871,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Hubbell by 38.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,562 shares of the industrial products company’s stock worth $1,526,000 after acquiring an additional 986 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Hubbell by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,236 shares of the industrial products company’s stock worth $2,671,000 after purchasing an additional 420 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Hubbell by 9.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,155 shares of the industrial products company’s stock worth $495,000 after purchasing an additional 95 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Hubbell by 5.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,601 shares of the industrial products company’s stock valued at $2,399,000 after purchasing an additional 270 shares during the last quarter. Finally, Trajan Wealth LLC purchased a new position in shares of Hubbell during the 3rd quarter valued at about $218,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Hubbell Price Performance

HUBB stock opened at $369.08 on Friday. The stock has a market capitalization of $19.81 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.34 and a beta of 0.92. The firm’s 50-day moving average price is $415.98 and its two-hundred day moving average price is $424.05. 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 Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.69 EPS. As a group, equities analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.43%. Hubbell’s dividend payout ratio is presently 36.77%.

Analysts Set New Price Targets

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

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.