IFP Advisors Inc Trims Holdings in Hubbell Incorporated (NYSE:HUBB)

IFP Advisors Inc cut its stake in Hubbell Incorporated (NYSE:HUBB) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,201 shares of the industrial products company’s stock after selling 44 shares during the quarter. IFP Advisors Inc’s holdings in Hubbell were worth $507,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in HUBB. MassMutual Private Wealth & Trust FSB boosted its stake in Hubbell by 12.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after buying an additional 25 shares during the period. JGP Wealth Management LLC lifted its stake in Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 26 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Hubbell by 0.5% in the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after purchasing an additional 27 shares in the last quarter. Avestar Capital LLC boosted its holdings in shares of Hubbell by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 28 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its holdings in shares of Hubbell by 4.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 701 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 31 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Up 0.6 %

Shares of NYSE:HUBB opened at $371.51 on Friday. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The firm has a market capitalization of $19.94 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.34 and a beta of 0.92. The stock has a 50 day moving average price of $414.87 and a 200-day moving average price of $423.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

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

Hubbell announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows 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 management believes its stock is undervalued.

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 1.42%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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