Intech Investment Management LLC Has $1.42 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Intech Investment Management LLC lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 55.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,398 shares of the industrial products company’s stock after selling 4,271 shares during the quarter. Intech Investment Management LLC’s holdings in Hubbell were worth $1,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its holdings in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell in the fourth quarter worth $30,000. Prospera Private Wealth LLC bought a new stake in shares of Hubbell in the third quarter worth $33,000. Versant Capital Management Inc lifted its position in shares of Hubbell by 64.6% in the fourth 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, Venturi Wealth Management LLC lifted its position in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB opened at $338.08 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $388.41 and its two-hundred day moving average price is $419.45. Hubbell Incorporated has a 1 year low of $330.32 and a 1 year high of $481.35. The firm has a market capitalization of $18.14 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. The company 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 was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.69 earnings per share. As a group, research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is presently 36.77%.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HUBB. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays cut their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Wells Fargo & Company cut their price objective 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. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Hold” and a consensus target price of $464.88.

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.