Hubbell Incorporated (NYSE:HUBB) Shares Sold by Keybank National Association OH

Keybank National Association OH reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,363 shares of the industrial products company’s stock after selling 386 shares during the period. Keybank National Association OH’s holdings in Hubbell were worth $7,692,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI acquired a new position in Hubbell in the 4th quarter valued at about $213,000. Bahl & Gaynor Inc. grew its holdings in shares of Hubbell by 10.9% during the fourth quarter. Bahl & Gaynor Inc. now owns 157,910 shares of the industrial products company’s stock worth $66,147,000 after buying an additional 15,468 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Hubbell by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,648 shares of the industrial products company’s stock valued at $130,546,000 after buying an additional 8,747 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Hubbell by 2.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,689 shares of the industrial products company’s stock valued at $1,964,000 after buying an additional 101 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Hubbell by 168.4% during the fourth quarter. Jones Financial Companies Lllp now owns 883 shares of the industrial products company’s stock worth $370,000 after acquiring an additional 554 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

HUBB stock opened at $354.38 on Thursday. The stock has a 50-day moving average price of $409.16 and a two-hundred day moving average price of $423.47. The company has a market cap of $19.02 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12-month low of $340.38 and a 12-month high of $481.35.

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

Hubbell declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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 paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

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