Blue Trust Inc. Decreases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Blue Trust Inc. reduced its position in Hubbell Incorporated (NYSE:HUBB) by 48.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 266 shares of the industrial products company’s stock after selling 252 shares during the quarter. Blue Trust Inc.’s holdings in Hubbell were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of HUBB. Groupama Asset Managment boosted its holdings in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the fourth quarter worth $30,000. Prospera Private Wealth LLC bought a new position in shares of Hubbell in the third quarter worth $33,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of Hubbell in the third quarter worth $41,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on HUBB. Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. 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. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Barclays lifted their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $471.50.

Hubbell Trading Down 3.3 %

Shares of HUBB stock opened at $376.74 on Friday. 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 business has a 50-day moving average price of $420.03 and a two-hundred day moving average price of $423.99. Hubbell Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35. The firm has a market cap of $20.22 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.69 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business 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 $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.40%. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management 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.