Sheaff Brock Investment Advisors LLC Sells 1,952 Shares of Hubbell Incorporated (NYSE:HUBB)

Sheaff Brock Investment Advisors LLC lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,423 shares of the industrial products company’s stock after selling 1,952 shares during the quarter. Hubbell accounts for about 0.8% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 29th largest position. Sheaff Brock Investment Advisors LLC’s holdings in Hubbell were worth $8,974,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HUBB. Stonebridge Financial Group LLC purchased a new stake in Hubbell during the 4th quarter valued at $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell in the third quarter valued at $33,000. Versant Capital Management Inc lifted its holdings in shares of 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 acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell during the 3rd quarter worth about $41,000. Finally, Northwest Investment Counselors LLC bought a new position in Hubbell during the 3rd quarter valued at about $58,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HUBB has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell has an average rating of “Hold” and an average target price of $471.50.

Hubbell Stock Down 0.8 %

Shares of Hubbell stock opened at $389.93 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 1.05. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.36 and a beta of 0.92. The firm’s 50-day moving average is $426.51 and its two-hundred day moving average is $423.46. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) 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%. Hubbell’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $3.69 earnings per share. As a group, research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.