Hubbell Incorporated (NYSE:HUBB) Shares Sold by Passumpsic Savings Bank

Passumpsic Savings Bank reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,657 shares of the industrial products company’s stock after selling 92 shares during the quarter. Hubbell accounts for approximately 2.0% of Passumpsic Savings Bank’s investment portfolio, making the stock its 18th largest position. Passumpsic Savings Bank’s holdings in Hubbell were worth $3,207,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Suncoast Equity Management grew its holdings in Hubbell by 8.7% during the fourth quarter. Suncoast Equity Management now owns 2,676 shares of the industrial products company’s stock worth $1,121,000 after acquiring an additional 215 shares during the period. ING Groep NV grew its holdings in Hubbell by 32.4% during the fourth quarter. ING Groep NV now owns 6,855 shares of the industrial products company’s stock worth $2,871,000 after acquiring an additional 1,676 shares during the period. Handelsbanken Fonder AB grew its holdings in Hubbell by 41.2% during the fourth quarter. Handelsbanken Fonder AB now owns 53,858 shares of the industrial products company’s stock worth $22,561,000 after acquiring an additional 15,719 shares during the period. Atria Wealth Solutions Inc. grew its holdings in Hubbell by 4.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,838 shares of the industrial products company’s stock worth $770,000 after acquiring an additional 82 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 53 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Hubbell Trading Down 3.3 %

NYSE:HUBB opened at $376.74 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35. The stock’s 50-day moving average is $421.57 and its two-hundred day moving average is $423.47. The stock has a market cap of $20.22 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Hubbell (NYSE:HUBB) last released its earnings results 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $3.69 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 1.40%. Hubbell’s dividend payout ratio is 36.77%.

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

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.