Hubbell Incorporated (NYSE:HUBB) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,858 shares of the industrial products company’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Hubbell were worth $1,197,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Mizuho Securities USA LLC lifted its position in shares of Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after acquiring an additional 129,490 shares in the last quarter. State Street Corp raised its holdings in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after acquiring an additional 22,507 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after acquiring an additional 82,258 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Hubbell by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock valued at $535,681,000 after acquiring an additional 8,278 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of Hubbell stock opened at $341.52 on Friday. The firm has a market capitalization of $18.33 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $397.69 and its two-hundred day moving average is $421.34.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm posted $3.69 earnings per share. Research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given 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 1.55%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on 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 directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Barclays reduced their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and a consensus target price of $464.88.

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.