Hubbell Incorporated (NYSE:HUBB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Hubbell Incorporated (NYSE:HUBB) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,470 shares of the industrial products company’s stock after selling 93 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hubbell were worth $1,037,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Creative Planning increased its stake in Hubbell by 19.3% in the 3rd quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock valued at $1,775,000 after purchasing an additional 671 shares in the last quarter. Signaturefd LLC increased its stake in Hubbell by 20.3% in the 3rd quarter. Signaturefd LLC now owns 278 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 47 shares in the last quarter. Private Advisor Group LLC increased its stake in Hubbell by 10.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,196 shares of the industrial products company’s stock valued at $2,226,000 after purchasing an additional 508 shares in the last quarter. Greenleaf Trust increased its stake in Hubbell by 10.4% in the 3rd quarter. Greenleaf Trust now owns 761 shares of the industrial products company’s stock valued at $326,000 after purchasing an additional 72 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Hubbell by 3.2% in the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on HUBB. Sanford C. Bernstein began 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. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays raised their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded 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 report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Price Performance

HUBB stock opened at $376.74 on Monday. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The stock’s fifty day simple moving average is $420.03 and its 200-day simple moving average is $424.45. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $20.22 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.33 billion for 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 was down .9% on a year-over-year basis. Equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently disclosed 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. This represents a $5.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

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.