Anchor Capital Advisors LLC Sells 5,535 Shares of Hubbell Incorporated (NYSE:HUBB)

Anchor Capital Advisors LLC reduced its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,282 shares of the industrial products company's stock after selling 5,535 shares during the quarter. Hubbell comprises 1.4% of Anchor Capital Advisors LLC's holdings, making the stock its 20th largest holding. Anchor Capital Advisors LLC owned about 0.21% of Hubbell worth $47,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Mirae Asset Global Investments Co. Ltd. lifted its stake in Hubbell by 38.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,562 shares of the industrial products company's stock valued at $1,526,000 after buying an additional 986 shares during the period. State of Alaska Department of Revenue lifted its stake in Hubbell by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 6,236 shares of the industrial products company's stock valued at $2,671,000 after buying an additional 420 shares during the period. J.W. Cole Advisors Inc. lifted its stake in Hubbell by 9.0% in the third quarter. J.W. Cole Advisors Inc. now owns 1,155 shares of the industrial products company's stock valued at $495,000 after buying an additional 95 shares during the period. Nisa Investment Advisors LLC lifted its stake in Hubbell by 5.1% in the third quarter. Nisa Investment Advisors LLC now owns 5,601 shares of the industrial products company's stock valued at $2,399,000 after buying an additional 270 shares during the period. Finally, Trajan Wealth LLC acquired a new position in Hubbell in the third quarter valued at approximately $218,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HUBB has been the topic of several recent analyst reports. Barclays dropped their price target on Hubbell from $475.00 to $422.00 and set an "equal weight" rating on the stock in a research note on Monday. StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and dropped their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $464.88.

Hubbell Stock Down 4.7 %

Shares of NYSE:HUBB traded down $17.38 during trading on Monday, reaching $354.21. 724,441 shares of the stock were exchanged, compared to its average volume of 458,683. The stock has a fifty day moving average of $413.77 and a two-hundred day moving average of $424.31. Hubbell Incorporated has a 1-year low of $346.13 and a 1-year high of $481.35. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company posted $3.69 earnings per share. Hubbell's revenue was down .9% compared to the same quarter last year. Research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.49%. Hubbell's dividend payout ratio (DPR) is currently 36.77%.

Hubbell declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction on Thursday, February 20th. The stock was 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 represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

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.