Artisan Partners Limited Partnership Sells 14,298 Shares of Hubbell Incorporated (NYSE:HUBB)

Artisan Partners Limited Partnership decreased its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 562,338 shares of the industrial products company's stock after selling 14,298 shares during the period. Artisan Partners Limited Partnership owned 1.05% of Hubbell worth $235,558,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV grew its holdings in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares during the period. Groupama Asset Managment grew its stake 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 purchased a new stake in Hubbell in the 4th quarter worth about $30,000. Versant Capital Management Inc raised its stake in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 31 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Hubbell by 69.7% during the fourth 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. 88.16% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays lowered their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and a consensus target price of $462.13.

Hubbell Price Performance

Hubbell stock traded down $6.39 during midday trading on Monday, hitting $325.62. 210,192 shares of the company's stock were exchanged, compared to its average volume of 652,041. The company has a market cap of $17.48 billion, a P/E ratio of 22.68, a PEG ratio of 1.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The stock has a 50-day moving average price of $379.97 and a two-hundred day moving average price of $418.86. Hubbell Incorporated has a 52-week low of $316.34 and a 52-week high of $481.35.

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

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.62%. Hubbell's dividend payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction dated 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 sale, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.