Hubbell Incorporated (NYSE:HUBB) Shares Sold by Portland Global Advisors LLC

Portland Global Advisors LLC cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,796 shares of the industrial products company’s stock after selling 1,036 shares during the quarter. Hubbell comprises about 1.4% of Portland Global Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Portland Global Advisors LLC’s holdings in Hubbell were worth $11,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Schroder Investment Management Group raised its holdings in shares of Hubbell by 6.5% in the 4th quarter. Schroder Investment Management Group now owns 63,758 shares of the industrial products company’s stock worth $26,708,000 after purchasing an additional 3,912 shares in the last quarter. Allianz SE bought a new position in shares of Hubbell in the fourth quarter valued at $436,000. Allstate Corp acquired a new stake in shares of Hubbell during the 4th quarter valued at $644,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Hubbell by 230.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 52,830 shares of the industrial products company’s stock worth $22,130,000 after acquiring an additional 36,829 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new position in shares of Hubbell in the 4th quarter worth $371,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of analyst reports. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company dropped their target price 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. Finally, Barclays cut their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $462.13.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Down 3.0 %

HUBB stock opened at $331.68 on Friday. The company has a 50 day moving average of $379.97 and a two-hundred day moving average of $418.68. The company has a market cap of $17.80 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm earned $3.69 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has authorized a share repurchase 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.