Hubbell Incorporated (NYSE:HUBB) Shares Sold by abrdn plc

abrdn plc reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219,172 shares of the industrial products company’s stock after selling 18,371 shares during the period. abrdn plc’s holdings in Hubbell were worth $91,979,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC raised its holdings 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 during the period. State Street Corp grew its position in shares of Hubbell by 1.1% during the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after buying an additional 22,507 shares during the last quarter. International Assets Investment Management LLC raised its stake in Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA lifted 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 worth $607,176,000 after acquiring an additional 82,258 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $401.11 on Wednesday. The stock’s 50 day moving average price is $437.00 and its 200 day moving average price is $422.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 1.45 and a beta of 0.92. Hubbell Incorporated has a 12 month low of $342.85 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $3.69 EPS. Equities research analysts anticipate that Hubbell Incorporated will post 16.48 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is presently 38.04%.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HUBB shares. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays lifted their price objective 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, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $471.50.

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.