American Century Companies Inc. Cuts Stake in Hubbell Incorporated (NYSE:HUBB)

American Century Companies Inc. reduced its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,256 shares of the industrial products company's stock after selling 1,530 shares during the period. American Century Companies Inc. owned 0.27% of Hubbell worth $59,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV raised its position in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after buying an additional 30 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of Hubbell by 17.0% during the 3rd 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 acquired a new position in shares of Hubbell during the 4th quarter valued at about $30,000. Versant Capital Management Inc raised its stake in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock worth $33,000 after purchasing an additional 31 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

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Hubbell Stock Performance

Shares of Hubbell stock traded down $10.32 on Friday, hitting $331.68. The stock had a trading volume of 387,277 shares, compared to its average volume of 492,605. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94. 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 52-week low of $330.32 and a 52-week high of $481.35. The company's 50 day moving average price is $379.97 and its 200 day moving average price is $418.68.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company's quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $3.69 EPS. On average, research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

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

Hubbell declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on HUBB. Barclays decreased their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Hubbell presently has a consensus rating of "Hold" and an average target price of $462.13.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares in the company, valued at $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 available through this hyperlink. Company insiders own 0.66% of the company's stock.

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.