Barclays PLC Has $31.67 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Barclays PLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 26.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,604 shares of the industrial products company's stock after selling 27,779 shares during the quarter. Barclays PLC owned about 0.14% of Hubbell worth $31,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Hubbell during the 4th quarter worth approximately $195,218,000. Raymond James Financial Inc. purchased a new position in Hubbell in the 4th quarter valued at about $63,647,000. Bank of New York Mellon Corp grew its holdings in shares of Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock worth $1,183,920,000 after buying an additional 129,490 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Hubbell in the fourth quarter valued at approximately $40,533,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Hubbell by 6.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock valued at $632,704,000 after buying an additional 92,954 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Up 3.4 %

Shares of Hubbell stock traded up $11.85 on Thursday, reaching $357.80. 95,544 shares of the company were exchanged, compared to its average volume of 518,038. 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 fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The stock has a fifty day moving average price of $347.94 and a 200-day moving average price of $407.23.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.69 earnings per share. On average, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its board has approved 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Hubbell Dividend Announcement

The firm 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 1.48%. Hubbell's payout ratio is presently 36.77%.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company decreased their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $449.38.

Hubbell Company 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.